CMC News

$SOL ETF Delayed Until October Despite Market Rally

The U.S. Securities and Exchange Commission has delayed its decision on Grayscale's spot $SOL ETF proposal until October.

The delay extends the regulatory uncertainty surrounding Solana-based investment products for institutional investors.

Despite the postponement, $SOL rose 5% on the day of the announcement, showing market resilience.

Prediction markets briefly saw ETF approval odds drop from 89% to 80% before recovering to 82%.

DeFi Development Corporation has already acquired over $100 million worth of $SOL without waiting for ETF approval.

The company cited potential ETF limitations around #staking and validator fees as reasons for direct holdings.

Under the Trump administration's crypto-friendly stance, the SEC’s acknowledgement of the filing was seen as progress.

Many companies are now adopting Michael Saylor-style treasury strategies with $SOL instead of $BTC.