Fidelity’s bid to launch a Solana ETF has been delayed once more. The US Securities and Exchange Commission (SEC) confirmed the delay on July 7, 2025. The submitting, submitted by Cboe BZX Exchange, is a part of a proposed rule change to checklist and commerce the Fidelity Solana Fund.
SEC Initiates Review of Fidelity’s Solana ETF Proposal
According to an SEC document, the regulator is now formally reviewing whether or not to approve or reject the proposal. The company has requested for public feedback inside 21 days and rebuttals inside 35 days from the date of publication within the Federal Register.
This delay was broadly anticipated by market analysts. James Seyffart, a Bloomberg ETF analyst, known as the transfer “expected.” In his X post, he mentioned the choice reveals how far the SEC nonetheless is from approving spot crypto ETFs tied to altcoins. The broader framework wanted for merchandise just like the Solana ETF stays incomplete.
He identified that the dearth of regulatory readability continues to stall new choices. This delay comes simply because the SEC launched its first formal steering on crypto exchange-traded merchandise, which impacts each Solana ETF software going ahead.
SEC Overhauls Crypto ETF Guidelines For Faster Approvals
According to a Reuters report, that doc marked a significant shift underneath the management of the Republican-majority fee. It units a brand new customary for how crypto ETFs are dealt with. The SEC’s new steering asks asset managers to obviously clarify the dangers, custody construction, and uniqueness of crypto-based ETFs.
These explanations should be in “plain English.” The company needs to make sure that each traders and regulators perceive what makes these funds completely different. This readability is very essential for merchandise just like the Solana ETF, which provide publicity to newer altcoins.
The SEC can also be engaged on a second doc that would make future ETF listings a lot sooner. That replace might scale back approval instances from over 200 days to round 75 days. While that may profit many merchandise, the Solana ETF stays in regulatory limbo for now.
Dozens of comparable filings, from XRP to meme coin ETFs, are additionally on maintain. In the meantime, some companies are pursuing different approaches. Last week, REX Financial and Osprey Funds launched the REX-Osprey Sol + Staking ETF. Though not a direct Solana ETF, it offers traders oblique publicity to the community and its staking rewards.
Paul
Paul Adedoyin is a crypto journalist with 4+ years expertise who offers well timed information, in-depth analysis, and insightful content material to tell and empower his viewers. His works have been featured on websites reminiscent of CryptoMode, CryptoNewsFlash amongst others.
He holds a level in Geophysics from OAU, Nigeria. When he is not writing, he loves watching soccer and studying educative journals.
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