SEC Delays its Decision on Solana ETF

The SEC’s decision to defer Grayscale’s application reflects ongoing caution toward digital asset funds beyond Bitcoin and Ethereum. This follows a recent delay on a Litecoin ETF, underscoring the agency’s tendency to utilize the full review period for crypto products.

Despite these delays, optimism remains high. Prediction markets like Polymarket show over 80% confidence that both Solana and Litecoin ETFs will gain approval before the year’s end.

While Solana ETFs may not generate the capital surge seen with Bitcoin ETF approvals—which pushed BTC past $50K—analysts believe that regulated access could gradually boost institutional adoption of altcoins. According to Bitget’s Ryan Lee, even moderate inflows could eventually amount to billions once approved.

Looking ahead, June will be pivotal as the SEC is expected to rule on several additional ETF applications linked to Polkadot, XRP, and Dogecoin. However, given its history, further delays seem likely.