SEC Kicks Solana ETF Can Down the Road—Polkadot and XRP ETFs Now in the Crosshairs

Regulators hit pause on Solana’s ETF dreams—again. Now, all eyes turn to Polkadot and XRP as the next crypto contenders facing the SEC’s scrutiny.

Wall Street’s usual ’hurry up and wait’ playbook strikes again. While traders twiddle their thumbs, the crypto market keeps evolving faster than the bureaucrats can regulate it.

June Will Be Big for Crypto ETFs

While Solana fans may need to be patient, there’s plenty of ETF action on the horizon. The SEC is gearing up for a busy June, with decisions due on several other crypto-based spot ETFs.

Grayscale’s Polkadot ETF is on the clock first, with a decision deadline of June 11. Another Polkadot ETF application, this one by 21Shares, is set for review on June 24.

June 17 is shaping up to be even more interesting. That’s when the SEC is expected to decide on two high-profile filings: Franklin Templeton’s spot XRP ETF and Bitwise’s spot Dogecoin ETF. Both filings have drawn attention due to the assets’ popularity and the growing push to expand ETF offerings beyond just Bitcoin and Ethereum.

Investor Sentiment Remains Optimistic

Despite the latest delay, sentiment in the market remains upbeat. Many analysts — and investors — believe a Solana ETF will be approved before the end of 2025.

Ryan Lee, Chief Analyst at Bitget Research, said that a Solana ETF, even if smaller in scale than its Bitcoin counterpart, could still be a powerful vehicle for institutional adoption. By providing a regulated entry point into SOL, it could pave the way for significant long-term inflows.

So while there’s no green light just yet, the gears are turning. The SEC may be taking its time, but with several deadlines approaching fast, June could be a major month for crypto ETF watchers.

Also Read: SEC Delays Grayscale Litecoin ETF Decision, Seeks Public Input