SEC Hits Pause on Bitwise and 21Shares Solana ETF—Again

Regulators kick the can down the road, leaving crypto investors waiting—and wondering if Wall Street will ever catch up.

Solana’s ETF dreams face another delay as the SEC extends its review timeline. No surprise—the agency’s playbook seems to be ’delay, then delay some more.’

Meanwhile, TradFi shuffles paperwork while DeFi keeps building. Maybe next time, Gary.

Institutional Adoption Slows Amid Ongoing Uncertainty

Institutional investors looking to gain direct exposure to alternative assets like solana continue to face hurdles as U.S. regulators weigh market risks, volatility, and consumer protection frameworks.

The SEC’s recent extensions not only affect the timelines for these products but also indicate broader skepticism about rapidly integrating cryptocurrencies into the traditional financial system.

While firms like Bitwise and 21Shares have emphasized their adherence to compliance standards and transparency, the inclusion of features like staking, where users earn rewards for helping secure the blockchain, adds another LAYER of complexity that the SEC appears hesitant to approve without extensive review.

Surprise Approval Remains

Despite the delays, speculation persists within the industry that one crypto ETF could be greenlit ahead of schedule.

Though no specific product has been named, the possibility of a surprise approval is keeping industry watchers on alert. In the meantime, the SEC’s extensions indicate that no major breakthroughs in crypto ETF policy are expected before mid-2025, leaving market participants in a holding pattern.

The SEC’s latest actions reflect a careful, methodical approach to crypto ETF approval, prioritizing due diligence over market momentum.

SEC Slammed With 70+ Crypto ETF Filings

In April, Bloomberg analyst Eric Balchunas revealed that more than 70 cryptocurrency ETFs are currently awaiting review by the SEC.

SEC Slammed With 70+ Crypto ETF Filings as XRP, Solana Lead Altcoin Charge

The U.S. crypto ETF space is heating up in 2025, with Bloomberg analyst Eric Balchunas revealing that more than 70 cryptocurrency exchange-traded funds (ETFs) are currently awaiting review by the…

The lineup features a broad range of digital assets beyond Bitcoin, including XRP, Litecoin (LTC), Solana (SOL), Dogecoin (DOGE), and various crypto derivatives.

According to Balchunas, spot ETF applications for XRP and Solana are among the most popular in the current wave, with 10 institutions applying for XRP-based ETFs and six for Solana.

These numbers suggest rising institutional interest in diversifying crypto exposure beyond just Bitcoin and Ethereum. The surge in applications shows growing market demand and a shifting regulatory environment in the U.S.