The U.S. Securities and Exchange Commission (SEC) has once again extended the review timeline for the Solana (SOL) spot ETF, causing investors in the cryptocurrency space, who had high hopes, to hold their breath once more.
The U.S. SEC stated on Thursday that to allow more time to carefully evaluate the listing proposals for the 'Bitwise Solana ETF' and '21Shares Core Solana ETF', it has decided to postpone the announcement date of the review results for these two ETFs to October 16.
The SEC stated in its documents that the extension of the review period is to 'allow the committee ample time to evaluate the proposed changes to relevant rules and the various issues involved,' which is consistent with the SEC's past practice of extending review periods for cryptocurrency asset ETF applications.
Recently, Solana ETF applications submitted by Grayscale, Fidelity, and others have also encountered delays, indicating that this has become a 'routine procedure' for the SEC in handling such applications.
Market observations indicate that since the U.S. government adopted a cryptocurrency-friendly policy, the SEC has seen a significant increase in cryptocurrency ETF applications, covering a range of cryptocurrencies from XRP to Dogecoin (DOGE), totaling 'dozens' of applications.
Solana ETF applicants have recently pro-actively modified their application content to meet regulatory requirements and improve their chances of getting approved, including institutions like ProShares, Grayscale, Canary, and 21Shares, all of which are waiting for the SEC to grant approval.
However, global asset management giant BlackRock has not joined the Solana ETF race and stated last week that there are currently no plans to launch a Solana fund.
"Two more Solana spot ETFs are stuck! The U.S. SEC has extended the review period to October" was first published on (BlockKe).
