SEC Delays Approval of Fidelity’s Solana ETF
- The SEC delays Fidelity Solana ETF approval amid increased market interest.
- Institutional interest in Solana and crypto ETFs remains strong.
- Regulatory atmosphere suggests possible acceleration under current administration.
The U.S. Securities and Exchange Commission has delayed its decision on Fidelity Investments’ Solana ETF, announced July 7, 2025, as part of its regulatory review process.
As investors await clarity, the SEC’s postponement reflects persistent scrutiny over crypto ETFs. Despite the delay, institutional enthusiasm remains notably high.
The Application Process
Fidelity Investments, a major asset manager, submitted the spot Solana ETF application on June 13, 2025, via Cboe BZX Exchange. The SEC’s recent update announced a new review period requiring amendments with clear risk explanations, impacting several applicants, including Fidelity.
Market Impact
This decision impacts institutional flows into Solana and related crypto sectors. The SEC’s pause may slow liquidity into Solana platforms but maintains attention on Fidelity’s application against alternatives like REX-Osprey’s recently approved ETF.
Regulatory Stance and Market Reactions
Analysts observe delayed crypto ETF approvals often foretell sudden market reactions when greenlighted. The SEC’s current approach, including shorter amendment deadlines, indicates a nuanced regulatory stance.
Precedents from Bitcoin and Ethereum ETFs suggest potential for rapid market influx post-approval. The SEC’s 21-day comment period aligns with an intense focus on detailed evaluations, reflecting its cautious approach to spot crypto ETF evaluations.
“The proposal now enters a formal review stage that includes a 21-day public comment window. Interested parties may also submit rebuttals within 35 days of publication in the Federal Register.” – SEC
