In a breaking news report, the SEC has postponed Grayscale’s Solana Spot ETF application.
The SEC’s filing today stated that “no conclusions have been reached” regarding the NYSE’s 19b-4 filing. This development was in line with expectations, as the SEC can take up to 240 days to make a final decision on such filings. Considering Grayscale’s filing, the final decision date falls in October.
The SEC is expected to delay its decision until the upcoming deadline. This continues to create uncertainty among investors, while the 2025 approval probability of spot Solana ETFs on Polymarket has dropped from 89% to 80%. Interestingly, this drop occurred a few hours before the SEC filing hit media outlets. As the news spread, the rate rose again to 82%.
Spot Solana ETF applications started to come to the agenda in the last months of the Biden administration. At that time, the SEC, led by Gary Gensler, was mostly rejecting 19b-4 applications. However, with Trump becoming president again, the SEC considering such applications is interpreted as a sign of a significant change in the crypto world.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-sec-delays-one-of-pending-altcoin-spot-etf-applications/