SEC Delays 21Shares, Bitwise, VanEck, Fidelity Spot Solana ETFs, Opens Public Comment Period

The U.S. Securities and Exchange Commission (SEC) has postponed its decisions on several spot Solana exchange-traded funds (ETFs), including those proposed by 21Shares, Bitwise, VanEck SolidX Bitcoin Trust, and Fidelity. The SEC has opened a public comment period for the 21Shares and Bitwise Solana ETFs and cited the need for further review in delaying the approval of Fidelity’s spot Solana ETF. The Cboe BZX Exchange has filed a rule change proposal to list shares of Bitwise’s Solana ETF under BZX Rule 14.11(e)(4), which pertains to commodity-based trust shares. These delays reflect the SEC’s ongoing cautious approach toward approving cryptocurrency-related ETFs, particularly those involving Solana (ticker: SOL).

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