All eyes turned to 2025 and what ETFs based on cryptos would be approved. Many expected that a new US Securities and Exchange Commission would approve a new investment product. The SEC has revealed that the process is not off to a good start. Solana ETF decision.
SOL’s movement hasn’t been affected by this. The crypto’s value has risen by over 2% in the past day, as per CoinMarketCap. It also made a surge above $170, before quickly falling back. Many people are hopeful that this asset will be able to continue on its current run. Can a Solana ETF’s approval make it skyrocket this year at any point?
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SEC delays Solana’s ETF decision: what does that mean for SOL
The cryptocurrency market was able to approve spot ETFs for both Bitcoin and Ethereum last year. The turn of the events was shocking, especially in light of a clear anti-crypto government. It was even more surprising how well the team performed. BTC ETF Products played a key role in the eventual rise to an all-time record of $109,000.
Many expected the same thing to happen this year as well. Many also projected that many assets could be taken into consideration. One of the best options, however, will need to be put on hold, since the SEC issued a postponement for the Solana ETF.
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The SOL token fund was given a new deadline. The agency noted in detail that there was a need for more time with regard to applications by 21Shares Bitwise VanEck Canary Capital.
“Institution of proceedings does not indicate that the commission has reached any conclusions with respect to any of the issues involved,” The SEC stated in a press release. “The Commission seeks and encourages interested persons to provide comments on the proposed rule change.”
Many experts noted the expected move. The move was expected, according to DecryptJuan Leon, CFA at Bitwise Asset Management, discussed the new deadline. “People were expecting [the Commission] to just green light everything as soon as the application got put in; that isn’t how the process works.”
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Source: watcher.guru
