"SEC delays Solana ETF, Polkadot & XRP decisions loom"

SEC Delays Solana ETF Decision

The US Securities and Exchange Commission (SEC) has delayed its decision on a proposed spot Solana exchange-traded fund (ETF). The industry is now focusing on the upcoming decisions for Polkadot and XRP-based ETFs in June. The SEC postponed its decision on listing Grayscale’s spot Solana (SOL) Trust ETF on the New York Stock Exchange (NYSE) to October 2025, as per a filing by the securities regulator.

Spot ETFs and Institutional Adoption

Spot ETFs play a vital role in driving liquidity and institutional adoption for digital assets. Bitcoin's spot ETFs captured a significant chunk of new investment after their launch, helping Bitcoin surpass the $50,000 mark in February 2024. While a Solana ETF may not attract as much investment as Bitcoin ETFs, it could still boost Solana’s institutional adoption in the long run by providing a regulated investment vehicle that could attract billions in capital.

Investor Sentiment and ETF Approvals

Despite the delay, most investors remain optimistic about the approval of a SOL ETF before the end of 2025. According to data from Polymarket, investors are predicting an 82% chance for a SOL ETF approval by the end of the year. The odds are also favorable for a Litecoin ETF approval, with an 80% chance predicted by investors.

Upcoming SEC Decisions in June

Several other crypto ETF applications are awaiting SEC decisions in June. The SEC will decide on Grayscale’s Polkadot (DOT) ETF on June 11 and 21Shares’ Polkadot ETF on June 24. Additionally, decisions are expected on Franklin Templeton’s spot XRP and Bitwise’s spot Dogecoin ETFs on June 17. However, these decisions could also face delays, as the SEC tends to fully utilize its review period for evaluating crypto-related financial products.