Quick overview

Live SOL/USD Chart

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The U.S. Securities and Exchange Commission delayed two of Grayscale’s ETF applications, specifically those concerning Litecoin and Solana. This recent announcement follows the Commission’s decision to postpone several other ETFs

 

Since its reorganization under the Trump administration, the SEC has been inundated with ETF proposals. Although experts and community members remain optimistic about the likelihood of approval, it has not yet been granted.

However, responses to the Commission’s choice to delay Grayscale’s applications for Solana/Litecoin ETFs have been muted. “The start of proceedings does not mean that the Commission has made any decisions on the matters at hand. Instead, the SEC stated in its delayed filing that the Commission is requesting and encouraging interested parties to comment on the proposed rule change. The financial watchdog has postponed several ETF applications.

The crypto industry anticipated that Canary Capital’s Litecoin ETF approval would be delayed. Analysts have previously indicated that Litecoin ETFs are more likely to be approved than other altcoin products, but they have not commented on today’s developments.

Although it has not yet occurred, the market awaits a Solana ETF. The market is starting to factor these delays into pricing. In defiance of bearish forecasts, Litecoin surged last week after the SEC postponed an ETF filing.

Solana is showing “buy” signals and is trading well above all of the major moving averages, as well as 200-day EMAs and SMAs. This demonstrates a robust upward trend. On the other hand, the relative strength index, which stands at 71, indicates overbought conditions.