The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Franklin Templeton's spot XRP and Solana ETFs, following a request for public comments on the proposed rule changes. The agency's engagement with spot Solana ETF applicants signals that approvals could be on the horizon. Wall Street analysts are optimistic, suggesting that the SEC may approve these altcoin ETFs as early as next month. James Seyffart, a Bloomberg ETF analyst, stated, “I wouldn’t be completely shocked if we see approvals for Solana ETFs in the next month or so. But I also wouldn’t be surprised if we have to wait until the final deadline in October. The timeline is unknown.” This delay adds to the uncertainty around the expected altseason in 2025. Traditionally, as seen in the past, such delays can disrupt market movements, including the rotation from Bitcoin to altcoins. The SEC has been actively communicating with fund managers interested in spot Solana ETFs, increasing hopes for approval before the year’s end. Moreover, the growing interest from institutional investors in Solana adds to the chances of these ETFs being approved following similar approvals in Canada.
SEC Delays Decision on Franklin Templeton's Spot XRP and Solana ETFs
The SEC has postponed its decision on two significant spot ETFs, hinting at potential approvals for Solana in the near future. Analysts suggest a possible green light for altcoin ETFs next month.
Jamie Bennett
Crypto Analyst
5 min read
15,136
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 8/10
Trading Recommendation
SOL
SOL
BUY
Entry Price
$25
Confidence
80%
Stop Loss
$23
Take Profit
$30 - $35
The favorable news regarding potential ETF approvals for Solana enhances the bullish outlook, prompting a buy.
