SEC Hits Pause on Solana ETFs—Final Verdict Pushed to October
Solana's ETF dreams just got put in regulatory purgatory. The SEC—never one to rush a decision—kicked the can down the road, delaying its verdict until October. Wall Street's favorite 'wait-and-see' strategy strikes again.
What's the holdup? Officially, 'careful consideration.' Unofficially? Another chance for bureaucrats to debate whether crypto deserves a seat at the big kids' table. Meanwhile, traders are left staring at charts, wondering if the SEC owns a calendar.
Solana bulls aren't sweating—yet. The chain's speed and low fees still make it an ETF frontrunner... assuming the SEC remembers to check its inbox in October. Until then? Grab popcorn and watch the 'regulated financial innovation' theater play out—with bonus lobbying subplots.
Fun fact: This delay costs less than a single Wall Street exec's lunch meeting. Priorities.
Solana ETFs Approval Likely in October?
Despite the SEC’s delay on altcoin ETF decisions, Nate Geraci, President of The ETF Store, is optimistic that a broad array of crypto ETFs will hit markets soon.
Speaking to CNBC, he explained how regulatory tailwinds and record inflows into Bitcoin and Ether funds are driving altcoin momentum. He said that the new rules would trigger a flood of product launches in the coming months.
Andrejs Balans, Risk Manager at YouHodler, told Cryptonews that aside from Bitcoin and Ethereum, projects like Solana and Polkadot have attracted institutional interest, but are still considered experimental.
“Only a few of these are likely to survive long enough to gain serious attention from major capital allocators.”
SOL Surged Past $200, Indicates Strong Uptrend
Solana price ROSE to $209 on Thursday, amid soaring discussions over the potential Solana ETF launch in the US. Per CoinMarketCap, the 24-hour low and high are $195.26 and $209.67, respectively.
CoinGlass data noted massive buying in the derivatives market. Open interest (OI) has increased NEAR its recent record of $12, which indicates that traders are positioning for the continuation of this uptrend.
Additionally, crypto liquidations in the past 24 hours have surged to $800 million, including $50 million worth of SOL long positions.
