The world of cryptocurrency is effervescent up as soon as once more, and this time one thing notable falls to Solana (Sol). The U.S. Inventory Trade and the Securities Fee (SEC) yesterday introduced that it had postponed its resolution on the applying of a Grayscale firm that can launch a Quotation Fund (ETF) primarily based on the belongings.
The SEC reported that it delayed the analysis of Grayscale’s software to situation the Solana Fund. argues the necessity to deeper evaluation of the authorized and public coverage points raised by the proposal..
“The initiation of those steps is suitable for the problems concerned. This doesn’t imply that the committee has made a ultimate resolution,” Entity mentioned.
To advertise knowledgeable dialogue, The SEC has invited all stakeholders to current their feedback in writing inside 21 days, establishing a 35-day interval Including replicas to obtained opinions.
Grayscale formally filed its software on April 4, 2025, registering its intention to listing ETFs on the New York Inventory Trade (NYSE) below the GSOL image earlier than the SEC.
The presentation requires you to amass cryptocurrency on the alternate for particulars of merchandise designed to supply buyers’ in-person exhibitions at Solana costs. The motion seeks to capitalize on rising institutional curiosity in digital belongings. Ethereum’s Bitcoin (BTC) and ethher (ETH) in 2024, segments gaining traction after approval of ETH -crptocurrency.
Solana has races with a number of rivals
Grayscale is greater than only a dedication to Solana. As reported by Cryptooticies, 5 firms have additionally submitted functions to the SEC: Vaneck, Canary Capital, 21shares, Wisdomtree, Franklin Templeton -Franklin Templeton -21shares, Wisdomtree and Franklin Templeton.
This competitors highlights Solana’s attraction. The attraction of Solana is acknowledged for its community’s means to course of 1000’s of transactions at a low value, and is positioned as a strong various to networks like Ethereum.
Moreover, the SEC has delayed its resolution. One other Grayscale Request: ETF primarily based on Litecoin (LTC). Among the many pending 72 ETF proposals for cryptocurrency, Litecoin has emerged as a favorite for short-term approval.
There’s a 90% probability that Litecoin ETFs will approve money ETFs by the second half of 2025, based on James Seyfert and Eric Balknath, senior analysts at Bloomberg Intelligence.
The market is engaged on Solana’s future
The market response to the SEC announcement was speedy. Solana registered a 4% improve in its worth after the information It additionally gathered 22% progress over the previous seven days, reflecting buyers’ confidence within the regulatory course of.
This optimism is predicated With the popularity that SEC delays present an intensive evaluate much like these preceded by the 2024 Bitcoin and Ether approvals.. These steps are cautious, but indications of a regulatory surroundings that’s opening the door to a brand new type of property.
The 2025 forecast strengthens this attitude. Based on Bloomberg analysts, Solana has a 70% probability of getting an accredited ETFoutperforms Dogecoin (Doge) by 75%, adopted by Ripple XRP of 65%.
Political help
The issue that strengthens Solana’s place is the help of US President Donald Trump. In March 2025, Trump introduced the institution of the primary Nationwide Cryptocurrency Reserve, together with Solana together with Bitcoin, XRP and ADA.
Based on the president, the initiative goals to place the USA because the “world capital of cryptocurrency.” This political help not solely raises the profile of the Solar, It additionally sends optimistic indicators to regulators and markets On the strategic relevance of digital belongings.
Regardless of enthusiasm, the cryptocurrency path teaches that optimism must be tempered with warning. ETFs characterize alternatives to draw institutional capital, improve adoption and supply higher legitimacy to digital belongings. However they do not assure a sustained improve in costs.
Market-specific volatility and regulatory uncertainty are a reminder that, whereas promising, they don’t seem to be exempt from threat.
The SEC continues its evaluation and the market expects definition, however Solana is at a pivotal second. The potential of ETFs might combine their positions amongst main cryptocurrencies, however the path to its purpose is filled with challenges.
