SEC Hits Pause on Fidelity’s Solana ETF – Here’s the Hidden Twist

Regulators just slammed the brakes on another crypto ETF—but this delay might not be what it seems.

The Setup:
Wall Street's favorite 'innovation speed bump' strikes again. The SEC has delayed Fidelity's Solana ETF application, citing the usual 'need for review.' Translation: buy time while they figure out if SOL counts as a security or a punchline.

The Catch:
Insiders whisper this could be strategic. With Solana's tech gains and institutional interest, the delay might actually signal serious consideration—not rejection. Since when does the SEC move fast unless it's to sue someone?

Bottom Line:
Traders expected this. The real story? How fast SOL bounces back after the 'news.' Another day, another chance to watch crypto markets ignore bureaucracy like a DeFi protocol ignores KYC.

The United States Securities and Exchange Commission (SEC) has delayed making a definitive decision on the Fidelity solana Fund. The SEC announced a 21-day period for the public to submit their comments on whether the Fidelity Solana Fund should be approved or disapproved. 

Additionally, the agency instituted 35 days for the members of the public who intend to submit a rebuttal comment. The agency followed a similar pattern with other spot Solana ETFs and other altcoins in the recent past.

When Will Solana ETF Happen in the U.S? 

According to people familiar with the matter, the U.S. SEC requested prospective issuers of spot Solana ETFs to re-file amended S-1 documents before the end of July. The MOVE follows a similar request made last month, which signaled the imminent approval of spot Solana ETFs soon. 

“I think that the SEC has some pressure to approve these quicker than waiting all the way to October, especially with that Rex Shares product that got approved last week,” a person familiar with the matter noted. 

According to James Seyffart, a senior ETFs analyst at Bloomberg, there is more than a 90 percent chance that the U.S. SEC will approve the various spot SOL ETFs by the end of 2025.

What’s Next for SOL Price?

As with the wider altcoin market, SOL price has been trapped in a choppy consolidation pattern in the past year. The large-cap altcoin, with a fully diluted valuation of about $89.5 billion and a 24-hour average traded volume of around $3.7 billion, has been attempting to regain macro bullish momentum after rebounding from a support level around $130.

If you liked #Solana at $150, you’ll love it at $500. pic.twitter.com/dC3RzwqYf3

Although the weekly Relative Strength Index (RSI) has been forming a midterm bearish sentiment, robust fundamentals will likely propel SOL price towards a new all-time high in the NEAR term.