Specifically, the SEC cited concerns related to market manipulation and investor protection, factors it is obligated to weigh before granting any ETF listing.
The regulator said it is seeking additional public input and analytical time to determine whether the proposed rule changes would meet its standards for preventing fraud and ensuring investor confidence.
The regulator’s cautious tone suggests that Solana, despite its rising prominence, may face a longer path to ETF approval than its predecessors.
The delay comes amid a broader regulatory bottleneck affecting several digital asset ETFs. The regulator has postponed decisions on several crypto ETFs in recent weeks and months. Nonetheless, optimism remains strong in the market.
However, with final decisions potentially months away and broader policy uncertainty lingering, investors may be forced to wait until late 2025 for clarity on whether Solana ETFs will make it to US markets.
