Fidelity’s Solana ETF delay raises concerns – ‘No approvals until fall’

• Fidelity Sol ETF has been delayed because issuers are waiting for a new Crypto ETF approval.
• Analysts have warned that SeC accommodation can expand the approval of Altcoin ETF to Q4.

The US Securities and Stock Exchange Commission (SEC) has delayed the Fidelity Place decision Solan [SOL] ETF (fund-traded fund).

Solana ETF will have to wait. Again!

The submission was officially confirmed on July 7, while the SEC has now entered the comment and refute the phase within the commodity trusted shares.

However, there could be another delay for other altcoin ETFs, which were initially expected to be approved in the summer.

VX (formerly Twitter) post On July 7, analyst Bloomberg senior ETF James Seyffart said that the delay was “expected”. He interconnected Temporary holding of the planned “Digital Action Framework of ETP Agency”.

“We are still waiting for some kind of movement from SEC to a generalized framework of ETP digital asset.”

ALTCOIN ETF approval could expand to Q4

According to the SEC report, she asked issuers to add their amended applications by the end of July. However, Seyffart said This approval in the 3rd quarter maybe, but the SEC plan could extend the timeline.

“The approval of Q3 is definitely possible and maybe even likely. But that doesn’t mean it’s immediate.”

His projection was similar to Nate Geraci of Etfstore. Gerac warned that some issuers expected that the Crypto ETF SEC approval instructions would be functional in Q4.

“Some issuers do not believe that this frame will be fully implemented until the beginning of autumn. So by then * not * Spot Crypto ETF.”

According to the agency declaration 1 July would also include the added requests for publication.

Recently approved conversion Fund Index Multicrypto Gray to the ETF has been suspended until the framework is introduced.

Not all ETFs are the same: who is in line?

However, it is based on emphasizing that these point applications are under a different structure (the Securities Act of 1933). The approval and livest standing of Rex-Osprey Sol ETF is under the Investment Company Act of 1940.

It means Seyffart expected Most altcoin ETFs, including those who care, will be at once.

Especially, Litecoin [LTC]Sol, Wave [XRP], Dogecoin [DOGE]and Cardano [ADA] In October, all submissions of the ETF have the final final deadline for SEC.

Reaction to the market

After the update, Sol dropped about 2% from $ 154 to $ 147. If possible dataMarket chamfers proposed an activity bound within reach in summer.

Especially in the last 24 hours, the largest volume of calls for calls (bull bets) was concentrated at $ 152, $ 154 and $ 160 (green bars).

Meanwhile, (bear betting) and potential price floors were $ 140 and $ 144. In short, options traders expected Sol to remain in the near future $ 140-160.