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SEC delays decision on Solana spot ETF, targeting 21Shares and Bitwise.
The U.S. Securities and Exchange Commission (SEC) announced on Wednesday that it will postpone the deadline for making decisions on two Solana (SOL) physical exchange-traded fund (ETF) applications and solicit public comments. The 21Shares Core Solana ETF and the Bitwise Solana ETF were targeted, and the SEC has initiated proceedings for both transactions.
The SEC stated that "the initiation of proceedings does not indicate that the committee has reached a conclusion regarding the relevant applications" and "is seeking input from interested individuals." On the same day, it also began soliciting public comments on the Canary Solana Trust and VanEck Solana Trust.
The SEC is currently considering a wide range of cryptocurrency ETF applications, from XRP to Solana, ADA, and Dogecoin, with over 70 applications pending approval.