SEC Delays Spot Solana ETF, Demands Clear Disclosures
On July 7, the U.S. SEC delayed its decision on Fidelity’s proposed Solana ETF and opened a public comment period. The regulator has asked issuers to refile filings by late July with clear risk disclosures and custody details. Bloomberg analysts link the delay to missing spot altcoin ETF guidelines. Under the new rules, asset managers must explain risks and custody models in plain language to protect investors. This comes after Solana-focused ETFs drew $78 million in inflows over the past month. Since July 2, SSK has raised $41 million, while SOLT and SOLZ have gathered $69 million and $23 million year-to-date, respectively. REX Financial and Osprey Funds also launched the REX-Osprey Sol + Staking ETF, offering indirect Solana exposure and staking rewards. Looking ahead, potential SEC reforms could cut ETF review cycles from over 200 days to around 75 days. Traders should monitor these regulatory developments, review Solana ETF risk disclosures and custody frameworks, and consider potential impacts on SOL price and trading liquidity.
Bearish
The SEC’s decision to delay the approval of Fidelity’s spot Solana ETF introduces short-term regulatory uncertainty for SOL. Traders may hold off on reallocating capital until the public comment period closes and new disclosure requirements are clarified. This pause can reduce immediate buying pressure on SOL. However, strong inflows into existing Solana-focused ETFs (SSK, SOLT, SOLZ) and the launch of the REX-Osprey Sol + Staking ETF demonstrate continued investor interest. Moreover, proposals to shorten ETF review timelines and upcoming reforms could bolster long-term demand. Overall, the delay exerts bearish pressure on SOL in the near term, while the outlook remains cautiously optimistic over the longer horizon.