SEC Delays Fidelity’s Solana ETF Proposal as Regulatory Review and Public Feedback Begin

Key Points

1. The SEC has formally reviewed Fidelity’s Solana ETF application, opening a 35-day public comment window (21 days for initial feedback, 14 days for rebuttals).

2. The SEC’s cautious stance on altcoin ETFs, including Solana, reflects a deliberate approach to balance innovation with investor protection.

3. Alternative investment products, such as those from REX Financial and Osprey Funds, offer Solana exposure without requiring spot ETF approval.

4. The SEC’s updated ETF approval process may shorten review timelines, but regulatory uncertainty remains for altcoin-based ETFs.

5. Industry analysts note that altcoin ETFs face slower approval rates compared to Bitcoin-based products.