Fidelity’s attempt to list a Solana-based exchange-traded fund has been pushed back once more, with the U.S. Securities and Exchange Commission confirming the delay on July 7.
The proposal, filed through Cboe BZX Exchange, is now undergoing formal review as the SEC seeks further public input before making a decision.
The agency is soliciting comments for 21 days and rebuttals within 35 days following its publication in the Federal Register. While unsurprising to market watchers, the delay highlights the regulatory hurdles still facing altcoin-based ETFs. Bloomberg ETF analyst James Seyffart described the move as expected, underscoring that the SEC remains cautious about approving spot crypto ETFs that extend beyond Bitcoin and Ethereum.
The delay coincides with the SEC’s recent release of its first official guidance for crypto ETFs—marking a notable shift under its current leadership. The guidance requires asset managers to clearly explain key risk factors and fund structures in plain language. This new approach is expected to streamline future applications but hasn’t yet cleared the way for Solana-focused offerings.
In parallel, a separate rule change being developed by the SEC could shorten ETF approval timelines significantly—from over 200 days to as little as 75. But for now, Solana ETF proposals remain in limbo, alongside numerous others tied to altcoins and meme coins.
Some firms are turning to alternative strategies. Just last week, REX Financial and Osprey Funds rolled out a hybrid product—the REX-Osprey Sol + Staking ETF—which provides indirect exposure to the Solana ecosystem and its staking rewards, sidestepping the current regulatory bottleneck.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/fidelitys-solana-etf-faces-another-delay-as-sec-seeks-public-feedback/