The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s proposed spot Solana (SOL) Exchange-Traded Fund (ETF) until October 2025. This delay adds to the growing list of crypto ETF applications awaiting regulatory approval, including those for Polkadot (DOT) and XRP, with decisions expected in June.

SEC’s Strategic Pause on Crypto ETFs

The SEC’s recent actions reflect a cautious approach towards approving new crypto ETFs. Industry experts suggest that the agency is awaiting the confirmation of Paul Atkins as the new SEC Chair before proceeding with these decisions. Atkins, nominated by President Donald Trump, is a known crypto advocate, and his confirmation is anticipated to influence the SEC’s stance on digital asset financial products. (CoinDesk)

Upcoming ETF Decision Deadlines

The SEC is expected to make decisions on several significant crypto ETFs in June 2025:

  • Polkadot (DOT): Grayscale’s application is due for review by June 11, while 21Shares’ application is scheduled for June 24.(Barron’s)
  • XRP: Franklin Templeton’s spot XRP ETF is set for a decision on June 17.
  • Dogecoin (DOGE): Bitwise’s spot DOGE ETF is also awaiting a June 17 decision.

Market Implications and Investor Sentiment

The delay in Solana’s ETF approval has raised concerns among investors about the SEC’s regulatory approach towards altcoins. However, analysts remain cautiously optimistic, with some predicting an 82% chance of a Solana ETF approval by the end of 2025. The introduction of a Solana ETF could potentially enhance institutional adoption of the cryptocurrency, offering a regulated investment vehicle that may attract significant capital inflows.

Conclusion

As the SEC navigates its leadership transition, the cryptocurrency industry faces uncertainty regarding the approval of new ETFs. The upcoming decisions on Polkadot, XRP, and Dogecoin ETFs will be closely watched, as they may set precedents for future regulatory actions in the digital asset space. Investors and market participants will need to stay informed about these developments to assess potential impacts on their portfolios.

RELATED:  Ethereum Recovery and Lightchain AI Presale Surge in May 2025