The U.S. Securities and Exchange Commission has postponed its decision on five proposals for exchange-traded funds in alternative cryptocurrencies, from XRP and Dogecoin to Solana and Sui, pushing the deadlines to June or October while public opinion is reviewed. It seems that regulators are keen to listen to market and public feedback before taking a step towards approval, which hints at a deeper hesitation to gain sufficient confidence in these new products.
Alongside reviewing the technical aspects and governance issues in the protocols of these networks, the delay allows for restructuring and ensuring adequate liquidity levels and appropriate hedging support for investors. In this context, a fund linked to a token with an advanced structure like Solana Spot ETF or Sui Spot ETF tops the list of expectations for the next approval, due to the support of emerging institutions and the interest of developers in building DeFi-oriented applications on them.