{"id":48699,"date":"2025-07-08T12:45:09","date_gmt":"2025-07-08T12:45:09","guid":{"rendered":"https:\/\/www.europesays.com\/us\/48699\/"},"modified":"2025-07-08T12:45:09","modified_gmt":"2025-07-08T12:45:09","slug":"fidelitys-solana-etf-delay-raises-concerns-no-approvals-until-fall","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/48699\/","title":{"rendered":"Fidelity&#8217;s Solana ETF delay raises concerns &#8211; &#8216;No approvals until fall&#8217;"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\">Fidelity SOL ETF has been delayed as issuers await the SEC\u2019s new crypto ETF approval framework.\u00a0<\/li>\n<li style=\"font-weight: 400;\">Analysts cautioned that the SEC holdout could extend altcoin ETF approval to Q4.\u00a0\u00a0<\/li>\n<\/ul>\n<p>The U.S. Securities and Exchange Commission (SEC) has delayed a decision on Fidelity\u2019s spot <a href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"internal\">Solana [SOL]<\/a> ETF (exchange-traded fund) application.\u00a0<\/p>\n<p><strong>The Solana ETF will have to wait. Again!<\/strong><\/p>\n<p>The filing was officially acknowledged on the 7th of July, with the SEC now entering a comment and rebuttal phase under Commodity-Based Trust Shares.<\/p>\n<p>But there could be more delays for other altcoin ETFs too, which were initially expected to be approved in the summer.\u00a0<\/p>\n<p>In an X (formerly Twitter) <a href=\"https:\/\/x.com\/JSeyff\/status\/1942281704384913490\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">post<\/a> on the 7th of July, Bloomberg senior ETF analyst James Seyffart said the delay was \u2018expected.\u2019 He linked the temporary hold-up to the agency\u2019s planned \u2018digital asset ETP framework.\u2019<\/p>\n<blockquote>\n<p>\u201cWe\u2019re still waiting for some sort of movement from the SEC on a generalized digital asset ETP framework.\u201d<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/Screenshot-2025-07-08-090158.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-509127\" class=\"size-full wp-image-509127\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"SOL ETF\" width=\"581\" height=\"429\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/Screenshot-2025-07-08-090158.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-509127\" class=\"wp-caption-text\">Source: James Seyffart\/X<\/p>\n<p><strong>Altcoin ETF approval could extend to Q4<\/strong><\/p>\n<p>Per the report, the SEC asked issuers to refile their amended applications by the end of July. However, Seyffart <a href=\"https:\/\/x.com\/JSeyff\/status\/1942299667544383833\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">said<\/a> that approval in Q3 maybe likely, but the SEC plan could extend the timeline.\u00a0<\/p>\n<blockquote>\n<p>\u201cQ3 approval is definitely possible and maybe even likely. But that doesn\u2019t mean it\u2019s imminent.\u201d<\/p>\n<\/blockquote>\n<p>His projection was similar to Nate Geraci of ETFStore. Geraci <a href=\"https:\/\/x.com\/NateGeraci\/status\/1942202284575752641\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">cautioned<\/a> that some issuers expected the SEC\u2019s proposed crypto ETF approval guidelines to be functional by Q4.\u00a0<\/p>\n<blockquote>\n<p>\u201cSome issuers don\u2019t believe this framework will be fully implemented until early fall. So *no* spot crypto ETF approvals until then.\u201d<\/p>\n<\/blockquote>\n<p>According to the agency\u2019s <a href=\"https:\/\/www.sec.gov\/newsroom\/speeches-statements\/cf-crypto-asset-exchange-traded-products-070125\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">statement<\/a> on July 1st, the framework would also involve added disclosure requirements.\u00a0<\/p>\n<p>Already, the recently approved conversion of the <a href=\"https:\/\/ambcrypto.com\/sec-approves-grayscales-multi-crypto-index-etf-xrp-sol-ada-to-gain\/\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"internal\">Grayscale multi-crypto index fund<\/a> into an ETF has been paused until the said framework is in place.\u00a0<\/p>\n<p><strong>Not all ETFs are the same: Who\u2019s next in line?<\/strong><\/p>\n<p>Worth pointing out, however, that these spot applications are under a different structure (Securities Act of 1933). The approved and live REX-Osprey SOL ETF staking is under the Investment Company Act of 1940.\u00a0<\/p>\n<p>That said, Seyffart <a href=\"https:\/\/x.com\/JSeyff\/status\/1942285522518282515\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">expected<\/a> most of the altcoin ETFs, including those with staking, to be greenlighted all at once. <\/p>\n<p>Notably, <a href=\"https:\/\/ambcrypto.com\/category\/litecoin-news\/\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"internal\">Litecoin [LTC]<\/a>, SOL, <a href=\"https:\/\/ambcrypto.com\/category\/xrp-ripple-news\/\" data-wpel-link=\"internal\" rel=\"nofollow noopener\" target=\"_blank\">Ripple [XRP]<\/a>, <a href=\"https:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"internal\">Dogecoin [DOGE]<\/a>, and <a href=\"https:\/\/ambcrypto.com\/category\/cardano-news\/\" target=\"_blank\" rel=\"noopener nofollow\" data-wpel-link=\"internal\">Cardano [ADA]<\/a> ETF filings all have a final SEC decision deadline in October.\u00a0<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/altcoin-ETF-approval-odds.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-509128\" class=\"size-full wp-image-509128\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Solana ETF\" width=\"936\" height=\"696\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/altcoin-ETF-approval-odds.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-509128\" class=\"wp-caption-text\">Source: Bloomberg<\/p>\n<p><strong>SOL market reaction<\/strong><\/p>\n<p>SOL dipped about 2% from $154 to $147 after the update. According to Options <a href=\"https:\/\/app.laevitas.ch\/assets\/options\/activity\/SOL\/DERIBIT\/flows\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">data<\/a>, the market skew suggested range-bound activity in summer.<\/p>\n<p>In particular, in the past 24 hours, the largest volume of call options contracts (bullish bets) was concentrated at $152, $154, and $160 (green bars).<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/lvt_chart-SOL-Deribit-Volume-By-Strike-All-Expirations-2025-07-08T10_15_0203_00.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-509130\" class=\"size-full wp-image-509130\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Solana SOL ETF\" width=\"1080\" height=\"720\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/lvt_chart-SOL-Deribit-Volume-By-Strike-All-Expirations-2025-07-08T10_15_0203_00.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-509130\" class=\"wp-caption-text\">Source: Laevitas\u00a0<\/p>\n<p>Meanwhile, puts (bearish bets) and potential price floors were at $140 and $144.\u00a0In short, Options traders expected SOL to remain range-bound within $140-$160 in the near term.\u00a0<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tPrevious: <a href=\"https:\/\/ambcrypto.com\/bitcoin-miners-stock-up-btc-slows-history-points-to-whats-coming-next\/\" rel=\"next nofollow noopener\" data-wpel-link=\"internal\" target=\"_blank\">Bitcoin miners stock up, BTC slows: History points to what\u2019s coming next<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/vic-crypto-soars-60-in-24-hours-is-the-rally-just-beginning\/\" rel=\"prev nofollow noopener\" data-wpel-link=\"internal\" target=\"_blank\">VIC crypto soars 60% in 24 hours \u2013 Is the rally just beginning?<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Fidelity SOL ETF has been delayed as issuers await the SEC\u2019s new crypto ETF approval framework.\u00a0 Analysts cautioned&hellip;\n","protected":false},"author":3,"featured_media":48700,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3244,64,67,132,68],"class_list":{"0":"post-48699","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-united-states","11":"tag-unitedstates","12":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114817684297821430","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/48699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=48699"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/48699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/48700"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=48699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=48699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=48699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}