news 
SEC Delays Solana ETFs Despite 90% Approval Odds: ‘Timeline Unknown’
The US Securities and Exchange Commission (SEC) has unexpectedly delayed its decision on the spot Solana [SOL] ETF application, leaving investors in a state of uncertainty. Despite the impressive 90% approval odds reported by Bloomberg ETF analyst Eric Balchunas, the timeline for this decision remains unknown.
This development comes as a surprise, given that the SEC had been engaging with issuers regarding the SOL ETF staking filings, a move deemed positive for approval. In fact, even VanEck’s SOL ETF (VSOL) was already on the Depository Trust and Clearing Corporation’s (DTCC) active pre-launch list, mirroring the BTC and ETH ETF approval timeline.
It is essential to note that this delay does not necessarily impact the approval prospects. Analysts believe that such a move is an indication that the SEC has engaged in meaningful dialogue with issuers regarding the SOL ETF staking filings.
The market seems to be responding accordingly, as the price of Solana (SOL) saw modest selling pressure but recorded a low spot and Futures market demand.
Source: ambcrypto.com
