SEC Delays Decision on Grayscale Hedera, Franklin Solana ETFs – Coincu

Grayscale’s and Franklin’s ETF applications have been delayed as the SEC seeks further evaluation.

Such delays have become common as the SEC prioritizes full evaluations amidst a backlog of crypto ETF applications, notably including filings for XRP and Solana.

SEC Delays Grayscale Hedera and Franklin Solana ETFs

The SEC has postponed its decision regarding the Grayscale Hedera Spot ETF and Franklin Solana Spot ETF applications. The decision also impacts the Fidelity Spot Ethereum ETF, which anticipates a staking feature, alongside prior delays for Bitwise Dogecoin ETF and Franklin XRP Fund applications.

Immediate market implications arise from the decision delays due to the unclarified path for these ETF filings. Such a backlog, including over 70 other applications, signals continued uncertainty for institutional access. An SEC Official has stated it seeks “sufficient time to consider the proposed rule change and the issues raised therein.”

Community reactions include expressions of caution and anticipation within the crypto space. Past postponements set expectations for more understanding. An unnamed crypto official remarked, “The current backlog is unprecedented,” reflecting investors’ concerns for regulatory pacing.

Historical ETF Delays and Their Market Impact

Did you know? Previous delays in ETF approvals signal cautious regulatory approaches, maintaining consistent advisory resolutions to ensure regulatory frameworks.

Polkadot tokens currently trade at $4.13 with a market cap of $6.50 billion, representing 0.22% dominance, as per CoinMarketCap. Trading volumes showed a 27.09% decrease over 24 hours, reinforcing its circulating supply of 1.57 billion units.

Coincu research indicates that such regulatory pauses impact financial strategies, encouraging secured widespread consultation within protocols. Regular reviews highlight these trends directing market expectations and alignments.

Paul Atkins, Chair, SEC, has articulated confidence, stating, “Considering Atkins’ pro-crypto history, the crypto community remains confident that the new SEC administration will approve most of the recent crypto ETF filings.”