The dry takes its time. While we thought that the Crypto ETF would be approved in the channel by the new Trump administration, it seems that reality is a little more complicated and that the American bureaucracy still has its say. This is in any case what the President of the SEC said that announced yesterday that the files concerning the Solana ETF submitted by 21Shares, Bitwise, Vaneck and Canary Capital were going to be studied longer and that the decision was postponed. Explanations.
- The SEC has postponed its decision concerning ETF Solana files filed by 21Shares, Bitwise, Vaneck and Canary Capital, requiring an in -depth examination.
- The American regulator invoked legal and political issues, calling for stakeholders to provide their comments on proposals.
The dry announces that it needs more time to study the files of ETF Solana
In a official declaration Published yesterday, the Securities and Exchange Commission announced that it needed more time to examine the requests of ETF Solana filed by 21Shares, Bitwise, Vaneck and Canary Capital. The American financial regulator has mentioned Legal and political issues which require a more in -depth examination and has therefore decided to postpone its decision.
Here is what we can read in the official document:
« The opening of a procedure does not mean that the Commission has drawn conclusions on one or the other of the questions at stake (…) The Commission seeks and encourages interested persons to provide comments on the proposed modification of the rule. »»
The dry therefore needs More time to analyze the files . It also invites stakeholders to share their comments on the proposals of the various asset managers.
The American regulator evokes « legal and political questions » about these files
This announcement of the dry comes as the market expected a rapid approval ETF Crypto after the election of Donald Trump and his pro-Crypto statements. But as recalls Juan Leonthe Bitwise Asset Management financial director, the regulatory process is more complex than it seems:
« People expected the commission to simply give the green light to everything as soon as the requests are filed (…) But that’s not how it works (…) People must realize that these government organizations are bureaucratic and that these processes take more time than expected. »»
Despite this delay, Juan Leon remains optimistic and thinks that we are at a inflection point In the regulatory race and that we will see many more financial products based on cryptocurrencies arriving on the market in the years to come.
It must be said that since the election of Donald Trump, asset managers have flooded the dry of ETF proposals based on various cryptos, ranging from the same as an official Trump or Bonk to the NFT like Pudgy Penguins via altcoins like Solana or Ripple.
The dry therefore has bread to do the board and she takes her time to examine each file. If we can understand that the regulator wants to do things correctly, we hope that this prudence will not turn into reluctance and that The new administration will hold its campaign promises by quickly approving ETF Crypto.