Recently, the U.S. Securities and Exchange Commission (SEC) announced that it would postpone a decision on applications for two Solana—related cryptocurrency ETFs from 21Shares and Bitwise. In this process, the regulator invited the public to actively participate, which opens up new horizons for discussion and possibly even changes in the terms of regulation of cryptocurrencies.
The SEC has begun considering an application to create an ETF that will include Solana, called the 21Shares Core Solana ETF and the Bitwise Solana ETF. This is another step in the growing number of applications for cryptocurrency products that have attracted the interest of financial players and investors around the world. The SEC explained that at the moment they have not reached final conclusions, but have just started the trial process. It is important that they invite all interested parties to make their comments and suggestions regarding future changes to the rules.
Why is the SEC delaying the decision?
Cryptocurrency exchange—traded funds (ETFs) are investment products that will allow investors to buy and sell assets linked to popular cryptocurrencies without owning them directly. ETFs can become a serious tool in financial markets, especially for assets like Solana. This attracts the attention of large investors and regulators, as they can affect the volatility of the cryptocurrency market.
The SEC is already reviewing more than 70 applications for cryptocurrency ETFs, which shows how important these products have become. 21Shares and Bitwise, in particular, are expanding their offerings to include cryptocurrencies such as Solana, Dogecoin, XRP and Polkadot in their applications. However, this process is far from simple and requires time to thoroughly check all the factors.
What will all this lead to?
Apparently, the SEC focuses on the most transparent approach and opens the door to public discussions. This provides an opportunity for investors and regulators to analyze how changes in the rules may affect the market. At the same time, cryptocurrency ETFs for bitcoin and ethereum are already actively operating in the financial markets, but assets such as Solana have yet to be thoroughly studied.
In addition, an interesting trend has been observed in recent weeks: against the background of the growth of cryptocurrency ETFs in the United States, there has been an influx of funds into cryptocurrency products, which confirms the general interest of investors. For example, over the past week, $785 million has been invested in cryptocurrency ETPs, and this continues to be an increasing trend in 2025.
Backfilling question
If the SEC does approve cryptocurrency ETFs for Solana, do you think this will lead to an increase in interest in this cryptocurrency from large investors?