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Guavy AI Editorial Team••Sentiment: -2•Clout: 70

SEC Delays Solana ETF Approvals Until October

BTCETHSOL

The US Securities and Exchange Commission (SEC) has delayed its decision on Solana ETF approvals until October 16. The delay affects decisions from Bitwise and 21Shares, two firms awaiting approval for their Solana funds. Multiple other companies, including Grayscale, Fidelity, ProShares, and Canary, have also submitted applications for Solana products.

The SEC has shifted its posture on crypto ETFs since the Biden era, with recent regulatory changes allowing in-kind creations and redemptions. This change has opened doors for broader crypto product approvals and ETF options trading.

BlackRock, which offers Bitcoin and Ethereum ETFs, has confirmed it has no plans to introduce a Solana product.