SEC Throws Curveball: Solana ETFs Delayed Despite 90% Approval Odds – What’s Next?

The SEC just hit pause on Solana ETF approvals—despite a 90% market consensus they’d sail through. Here’s why regulators love playing chicken with crypto.

Regulatory Roulette

No timeline, no clarity—just classic SEC ambiguity. Analysts scratch heads as Solana’s ETF dreams get stuck in bureaucratic purgatory.

The Irony of ‘Protection’

Meanwhile, Wall Street’s legacy ETFs rack up fees unchecked. But heaven forbid retail gets exposure to an asset that actually performs.

Solana bulls left holding the bag while the SEC does its best impression of a clogged transaction queue. Some things never change.

SOL’s modest pressure, low demand

In fact, even VanEck’s SOL ETF (VSOL) was already on the Depository Trust and Clearing Corporation’s (DTCC) active pre-launch list.

This mirrored the BTC and ETH ETF approval timeline, further boosting SOL’s chances.   

Source:: DTCC

That said, despite the ongoing geopolitical tensions, SOL didn’t record massive profit-taking or sell-offs. Glassnode data showed that realized profit dropped to $32 million on the 17th of June. 

Meanwhile, past SOL local price peaks have attracted profit taking between $700M and above $1 billion. Put differently, current modest sell pressure suggested participants expected SOL to climb higher. 

Source: Glassnode

That said, SOL’s spot market demand has dropped since mid-May, as shown by the declining spot CVD (Cumulative Volume Delta).

Similarly, speculative interest has waned, as demonstrated by the southward movement of the CVD Futures. 

In short, overall market interest has declined across spot and derivatives sectors, and could delay a strong rebound for SOL if the trend continues. 

Source: Coinalyze

Over the same period, SOL has dropped from $180 to $147, down 22%. If approved, the ETF inflows could help SOL reverse recent losses and even print a new ATH. 

In fact, last year, market Maker GSR, predicted that SOL may increase 1.4x in a bear case or explode 8.9x in a bullish scenario if ETFs are approved.

That’s an implied price target of $170-$1000 based on its projection, with a baseline around $400.