Fidelity’s Solana ETF Faces Possible Further Delay as SEC Seeks Public Input

Key Points

1. Fidelity’s Solana-based ETF proposal has been postponed as the SEC initiates a formal review period, including a 21-day public comment window and 35-day rebuttal period.

2. The SEC recently issued its first official guidance for crypto ETFs, emphasizing transparency and risk disclosure, which may set a precedent for future submissions.

3. Alternative strategies like the REX-Osprey Sol + Staking ETF are emerging to circumvent direct regulatory hurdles faced by spot ETFs, offering indirect exposure to Solana.

4. The SEC is reportedly developing rule changes to reduce ETF approval timelines from over 200 days to approximately 75 days, though current proposals remain subject to extended reviews.

5. The delays highlight the SEC’s cautious approach to altcoin ETFs, with new guidance aiming to improve transparency and potentially expand crypto ETF offerings beyond Bitcoin and Ethereum.