SEC Pushes Back on Solana ETF Decision Amid Market Manipulation Concerns

The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision regarding multiple spot Solana (SOL) exchange-traded fund (ETF) applications from prominent asset managers like Bitwise, 21Shares, VanEck, Canary Capital, and Fidelity. The SEC’s announcement on May 19, 2025, marks an extended wait for these products that could impact the growing acceptance of Solana in mainstream finance.