The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton’s applications for spot exchange-traded funds (ETFs) tracking Solana (SOL) and XRP.
Originally anticipated by mid-June, the regulator has delayed the rulings to allow for additional time to review the proposals and gather further public input. The public commentary period for these specific ETF applications has been extended to late July.
This delay comes as ProShares also has pending applications for Solana and XRP ETFs, with a decision deadline set for late June. Market observers suggest the ProShares filings could face similar postponements.
Despite the delay, market sentiment remains optimistic regarding eventual approval. Prediction markets currently assign a high probability of approval for both a Solana ETF (91%) and an XRP ETF (89%) before the end of the year.
The SEC’s cautious approach reflects its ongoing emphasis on thorough due diligence in the oversight of cryptocurrency-related investment products, seeking to balance market innovation with robust investor protection standards.