SEC Throws Curveball, Delays XRP and Solana ETF Decisions!

Hang onto your hats, crypto fans! The U.S. Securities and Exchange Commission just dropped a bombshell, hitting the brakes on two more ETFs. Yep, you heard it right—Franklin Templeton's proposed XRP and Solana ETFs are now stuck in regulatory limbo, joining a bunch of other hopefuls on an ever-growing delay list.

Word hit the streets on Tuesday, June 17, with separate filings showing the SEC's gearing up for some serious decision-making. They're diving deep to figure out if these ETFs are gonna get the green light or the red light.

These delays? They're all about taking a closer look—getting into the nitty-gritty of the proposals and any worries they might stir up. It's a pause that'll stretch out for weeks, giving room for more public chatter and some serious internal review.

The SEC's not messing around. "We're kicking off proceedings under Section 19(b)(2)(B) to see if we should say yes or no to these rule changes," the filings declared. "Starting this doesn't mean we've made up our minds on anything yet."

This latest move keeps the SEC's trend of dragging its feet going strong—just last week, they threw similar delays at DOGE, AVAX, and HBAR ETFs.

It's not a flat-out rejection, but man, it sure feels like a cold shower on the market's hot anticipation for quick approvals. Yet, don't count out the optimists just yet.

Solana, XRP ETFs Still in the Game Despite SEC's Slow Roll

ETF guru James Seyffart isn't sweating the latest news. He's seen this movie before and says the SEC's delay isn't out of the ordinary. Sure, the when of an approval is anyone's guess, but he's pumped about the SEC's active involvement. "It's a very positive sign," he said, getting real about the situation.

He threw it out there on social media, saying, "Delay here was expected. The intermediary deadline was today. But, the SEC engaging on S-1 for Solana Staking ETFs? That's a *very* positive sign. Still, timelines for approvals are less certain in my book."

Just a few weeks back, Seyffart was throwing around high approval odds—90% for SOL and 85% for XRP—pointing to the SEC's take on the assets, the CFTC's futures oversight, and the solid backing from the filing bigwigs.

Both SOL and XRP took a 4% hit in the last 24 hours, likely feeling the sting from this regulatory shocker. But hey, it's not all gloom and doom. Over in Canada, the first XRP ETF just got the go-ahead from the Ontario Securities Commission, showing that interest and action are still heating up outside the U.S.