The U.S. Securities and Exchange Commission (SEC) recently decided to postpone the ruling related to the Solana Spot ETF (VANECK Spot Solana ETF) proposed by the asset management company VanEck. Specifically, on May 20, the SEC announced an extension of the review period for this ETF product's registration file, which means the approval or rejection decision will be pushed to a future date.
This delay is considered a part of the SEC's routine process for ETF files related to digital assets. VanEck's proposal for a Solana Spot ETF has attracted significant attention from the investment community, as it is one of the first ETF products focusing on SOL Token – the native cryptocurrency of the Solana blockchain.
The SEC's extension of the review period could create various speculations about the potential approval or rejection in the future and is seen as an important signal for the roadmap of other digital asset-based ETF launches. Previously, the SEC had also applied a similar strategy with Bitcoin Spot ETFs before approving a series of products in early 2024.
