SEC Delays Solana Trust Approval, Despite Whale Buying Surge

The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on Grayscale’s proposed Solana trust listing, citing potential legal issues. While the SEC awaits further submissions, on-chain data reveals a surge in whale activity for Solana. 21 days later, interested parties will submit their written views regarding the proposal, followed by a rebuttal period. Meanwhile, prominent institutional investors like Upexi and SOL Strategies have significantly purchased Solana (SOL) recently. This influx, coupled with the network’s high adoption rate from memecoins, has propelled SOL price to potential new all-time highs.