Entering 2025, all eyes were in what crypto-based ETFs could find approvals throughout the year. With the improved Securities and Exchange Commission (SEC), many people were hoping that new investment vehicles would give them a green light. However, the process has not reached its best start as the SEC reveals delays in its ongoing decisions for the Solana ETF.
However, it does not seem to affect Sol’s movements. Crypto has jumped over 2% over the last 24 hours, according to Coinmarketcap. Plus, it had surged past the $170 level before retreating soon. It hopes that the assets will be in good condition in the near future execution. The question is that it will help Solana ETF approvals spike at some point this year?
Solana ETF decisions get delays in SEC. What does that mean for SOL?
Last year, in the cryptocurrency market, both Bitcoin and Ethereum approved spot ETF products. It was a shocking event amidst the obvious anti-cryptic management. What’s even more shocking was how well they performed, as BTC ETF products played a major role in the ultimate surge to a high of $109,000.
As the calendar changed, many people were hoping for similar developments this year. Furthermore, they have predicted many assets to consider in such developments. However, one of the top options has to wait as the SEC issued a delay in the decision of the Solana ETF.
The agency has announced the extension deadline for funds around Sol Crypto tokens. Specifically, we noted that more time is needed for applications from the 21 shares, Bitwise, Vanek and Canary capitals.
“The litigation agency has not shown that the committee has reached a conclusion on any of the issues involved,” the SEC said in a press release. “The committee is recruiting and encouraging interested individuals to provide comments on changes to the proposed rules.”
Many experts note that this move is expected. Speaking about Decrypt, Bitwise Asset Management CFA Juan Leon discussed the change in deadlines. “People were hoping (the committee) would light everything green as soon as the application was entered. That’s not how the process works.”