8-7-2025 – The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Fidelity’s proposed spot Solana (SOL) exchange-traded fund (ETF), extending the regulatory review period. The delay, first reported by U.Today, reflects the SEC’s cautious approach to approving altcoin-based ETFs amid evolving crypto market regulations.
Fidelity filed its S-1 registration for the Solana ETF on June 13, joining firms like VanEck and Bitwise in seeking approval for spot SOL funds. The SEC has requested revised filings from all issuers by July’s end, incorporating guidance on staking and in-kind redemptions. Bloomberg ETF analyst James Seyffart noted the delay was anticipated, citing regulatory uncertainty surrounding altcoins as a key factor.
Meanwhile, REX-Osprey’s recently launched Solana staking ETF, approved under a separate regulatory framework, has heightened competition. The postponement underscores the SEC’s deliberate pace in expanding crypto ETF approvals beyond Bitcoin and Ethereum.
Solana, with a market cap of roughly $80 billion, is seen as a leading candidate for the next spot ETF, bolstered by its robust blockchain ecosystem. Analysts estimate a high likelihood of approval by late 2025, potentially driving institutional investment and boosting SOL’s price, which currently hovers around $149.