The U.S. Securities and Exchange Commission has formally deferred a decision on Fidelity’s proposal for a Solana-focused exchange-traded fund, instituting a comprehensive public comment process.
The regulatory body announced a 35-day feedback window, allowing 21 days for initial public input followed by 14 days for rebuttal arguments regarding the spot Solana ETF application. This move underscores the SEC’s cautious approach toward altcoin-based investment products amid ongoing attempts to balance market innovation with investor safeguards.
Industry analysts note the SEC’s decision reflects broader hesitancy toward alternative cryptocurrency ETFs compared to Bitcoin-focused funds, with approval trajectories typically slower for altcoin products. Regulatory ambiguity persists despite recent procedural adjustments that could expedite future ETF evaluations.
Alternative Solana exposure options continue operating outside SEC purview, including products from REX Financial and OSPREY Funds, providing institutional investment pathways independent of spot ETF approval requirements.