SEC Delays Solana ETF Decision, All Eyes on June Rulings for XRP and DOT

U.S. regulators have once again delayed action on a proposed Solana exchange-traded fund, pushing any potential approval into the final quarter of 2025.

The SEC’s decision to defer Grayscale’s application signals continued caution around digital asset funds beyond Bitcoin and Ethereum.

This delay follows a similar pause on a Litecoin ETF just days earlier, highlighting the agency’s pattern of using the maximum review window on crypto products.

Despite the hold-up, optimism persists: prediction markets like Polymarket still show over 80% confidence that both Solana and Litecoin ETFs will be approved before year’s end.

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While Solana ETFs are unlikely to match the tidal wave of capital seen after Bitcoin ETF approvals—which drove BTC past $50K—analysts believe regulated access could gradually strengthen institutional adoption of altcoins. Bitget’s Ryan Lee says even moderate inflows could translate to billions once greenlit.

Looking ahead, June will be critical. The SEC is expected to rule on several additional ETF applications tied to Polkadot, XRP, and Dogecoin. However, based on its track record, more delays appear likely.

Alexander Stefanov