The U.S. Securities and Exchange Commission (SEC) has postponed its decision on a proposed spot Solana ETF, leaving the crypto industry waiting for clarity on similar filings tied to Polkadot and XRP, which are expected to face key deadlines in June.
According to a filing dated May 13, the SEC has pushed back the timeline for deciding whether to list Grayscale’s spot Solana Trust ETF on the New York Stock Exchange (NYSE). The decision has now been deferred until October 2025.
Source: SEC
This delay follows a similar move just a week earlier, when the SEC also postponed its ruling on Canary Capital’s proposed Litecoin ETF. Bloomberg Intelligence analyst James Seyffart highlighted the Litecoin delay in a post on X on May 5.
It was indeed a delay: pic.twitter.com/0vipxSI1dl
— James Seyffart (@JSeyff) May 5, 2025
Looking ahead, the SEC is expected to make decisions on other crypto ETF applications in June. These include Grayscale’s and 21Shares’ proposals for Polkadot (DOT) ETFs, as well as Franklin Templeton’s application for an XRP ETF. However, given the SEC’s history of utilizing the full 240-day review period for crypto-related products, further delays are anticipated.
While the regulatory landscape remains uncertain, the crypto industry continues to advocate for diversified investment options. The approval of these ETFs could mark a significant step toward broader institutional adoption of digital assets.
