The US Securities and Exchange Commission (SEC) has delayed its decision on the spot Solana ETF applications from 21Shares and Bitwise. The delay is part of the uncertainty surrounding the broader crypto ecosystem’s ETF pursuits from asset managers. According to an update from the markets regulator, it is “instituting proceedings” for the two firms’ filings starting today. US SEC and Solana ETF Bid Many asset managers have filed for a Solana ETF, with the Bitwise filing lodged on January 28 with the BZX Exchange. After the SEC acknowledged the product, it initiated the first delay for the asset on March 11. 21Shares was one of the first in the industry to file for a Solana ETF in the United States. Despite running spot Bitcoin and Ethereum ETF products, the firm has yet to secure approval for the current Solana fund. As part of the newly opened proceedings, the regulator said… Read More at Coingape.com
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