ETF Solana: SEC slows down approval and claims revisions

The wait for a Stock Exchange (ETF) Solana (Sol) was extended because the Securities and Exchange Commission (SEC) delayed the approval of the request submitted by Fidelity. The proposed ETF now faces an additional examination and required changes before being able to move forward.

The dry requires updated deposits while the ETF Solana examination continues

In an update of July 7, the Securities and Exchange Commission asked the potential ETF issuers based on Solana to respond to comments and to re-send S-1 documents amended before the end of July.

The dry also invited the public to comment On the question of whether the rule proposed for the rating and negotiation of ETF Solana's shares effectively prevents fraud and manipulation or raises new concerns. Interested parties may submit their opinions within a defined comment period, with an opportunity to file replicas later.

This step extends the examination process and was expected by analysts following the continuous evaluation of certain requests from ETF Crypto.

Although the SEC has until October 10 to make a final decision concerning ETF Solana's proposal, current developments suggest that the evaluation could be completed earlier. The pace of this process can be influenced by recent events, in particular the automatic green light given to another fund linked to Solana under a distinct legal structure.

Rex-Osprey Sol and Staking ETF, which operates under the 1940 Investment Company Act, became effective last week without objection from the SEC. This approval route differs from the process used for most ETF Crypto, including that of Fidelity, but it could have implications on how the dry deals with comparable products in the future. A source familiar with the situation said,

I think that the dry is undergoing some pressure to approve these products faster rather than waiting until October, especially with this Rex Shares product which was approved last week

Technical requirements and regulatory commitment

The SEC carefully examines the requests of ETF Solana as part of its broader examination of the Crypto funds. In June, the agency asked issuers to update their S-1 deposits including more detailed information on important operational aspects.

This includes the way in which stuking rewards are managed and the mechanisms for creating and redempting ETF via nature processes.

These details are essential for the assessment of the Commission, as they make it possible to determine whether the proposed structure complies with current investor protection standards.

James Seyffart, ETF analyst at Bloomberg, said that the delay in Fidelity's ETF Solana's request was anticipated. He had previously predicted that the ETF based on Solana, XRP and Dogecoin would probably receive approval later this year.

Seyffart noted that the SEC still works on a broader framework for negotiated stock market products linked to digital assets, which influences the calendar of these decisions.

An in -depth look at the solana network and capital force

While regulatory decisions are still pending, Solana shows a strong activity on-chain and arouses significant interest in major investors.

Here is why Solana's momentum is difficult to ignore:

• More than 14.6 million active addresses on Solana In a single day bear witness to a massive commitment of users.
• Solana attracted $ 8.3 billion in capital in 7 daysexceeding 6.2 billion Ethereum.
• The Sol/ETH price ratio fell to 0.0586, its lowest level this year – yet the capital flows remain solid.
• Solana user activity reports sustained growth despite market fluctuations.

If it is approved before others, an ETF Solana would mark the first crypto fund based in the United States linked to a digital asset other than Bitcoin and Ethereum. In addition, the ETF offered for assets like XRP, Dogecoin and Litecoin remain under examination, without finalized decisions.