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SEC Delays Solana ETFs Despite 90% Approval Odds: “Timeline Unknown”
The US Securities and Exchange Commission (SEC) has decided to delay the decision on Franklin Templeton’s spot Solana [SOL] ETF application. This unexpected turn of events comes despite odds indicating a 90% chance of approval, leaving many in limbo regarding the timeline for this highly anticipated move.
In response to this development, Bloomberg ETF analyst Eric Balchunas commented that the delay was “expected” and further added that the approval odds remain at an impressive 90%. Moreover, he emphasized that dialogue between the SEC and issuers is a significant positive sign. The ambiguity surrounding the timeframe for the decision has left investors with a considerable amount of uncertainty.
It’s important to note that both Bloomberg analysts have highlighted the possibility of a rapid approval process, suggesting it could take place as soon as next month or by October at the latest. Nevertheless, neither analyst offered a precise timeline, only stating that they wouldn’t be astonished if approval was granted in either July or October.
The delay has not gone unnoticed and is certainly causing ripples within the cryptocurrency market. In other news related to SOL, the token saw a relatively minor decline in price due to modest selling pressure and reduced demand.
Source: ambcrypto.com
