The U.S. Securities and Exchange Commission (SEC) continues to delay the approval of Fidelity's Solana ETF (SOL) due to the opening of an additional public comment period, slowing down the decision-making process.
The SEC's request for amendments to filings and an extended response period indicates that the Solana ETF vetting process is entering a thorough evaluation phase to ensure transparency and protect investors.
MAIN CONTENT
SEC opens a new public comment period, delaying the approval decision for Fidelity's Solana ETF.
SEC requires companies to adjust their filings according to new guidelines on asset redemption and staking.
Alternative funds like REX-Osprey Sol + Staking ETF have been launched to meet the investment demand in the Solana ecosystem despite not being approved by the SEC.
Is the SEC pausing but not denying approval for the Solana ETF?
The SEC has opened a 21-day public comment period, part of a rigorous assessment process, showing caution in approving the Solana ETF. This is based on the evaluation of expert James Seyffart from Bloomberg, reflecting the SEC's cautious attitude towards altcoin-related ETFs.
The delay is anticipated as the SEC cautiously handles altcoin-related ETFs due to the unclear legal context.
James Seyffart, ETF analyst at Bloomberg, July 2025.
Currently, there are S-1 registration filings from Fidelity and companies like 21Shares, Bitwise, and Canary related to the Solana ETF, indicating that many organizations are actively participating in this market.
SEC requires adjustments to the Solana ETF filings to align with new guidelines.
According to SEC directives, Solana ETF issuers must submit an amended filing by the end of July, updating terms related to in-kind asset redemption and staking activities in accordance with the latest legal framework.
This shows that the SEC is taking a more proactive approach in preparing to make a final decision before the deadline of October 10, 2025, with the hope of soon promoting the appearance of altcoin ETF products in the market.
Additionally, the SEC is developing a new document, expected to reduce the average ETF approval time from 200 days to just about 75 days, greatly benefiting organizations wishing to expedite the listing process.
Alternative solutions when the Solana ETF is delayed.
As approvals for SPOT SOL ETFs are delayed, some funds have sought alternative ways to meet investment demand, notably with the launch of REX-Osprey Sol + Staking ETF, providing exposure to the Solana ecosystem and staking revenue without directly owning SOL.
This product is not directly regulated by the SEC but reflects a growing interest in digital asset products related to Solana. Meanwhile, many other altcoin funds like XRP or meme tokens are also in the process of seeking approval but are still awaiting decisions from regulators.
The launch of ETFs that do not directly hold assets allows investors to access the altcoin market while still limiting legal risks.
Financial expert Đỗ Lâm, June 2025.
Frequently Asked Questions.
How long will the SEC delay the Solana ETF? The SEC opens a new public comment period, expected to last at least 21 days, potentially adding response and discussion time up to 35 days. What adjustments are needed for the Solana ETF filings? The requirement to update in-kind asset redemption points and new information about staking activities in accordance with SEC's legal framework. Why is the SEC cautious with altcoin ETFs? Due to the complexity of product structures and altcoin market risks, the SEC needs to ensure investor protection and the integrity of the financial system. Are there any alternatives to the Solana ETF? The REX-Osprey Sol + Staking ETF provides indirect exposure to Solana assets and staking profits, not directly regulated by the SEC. Can the altcoin ETF approval time be shortened? The SEC is developing a new process that could reduce approval time from 200 days to 75 days.
Source: https://tintucbitcoin.com/sec-hoan-quyet-dinh-etf-solana-fidelity/
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