SEC Delays Grayscale Solana and Litecoin ETF Decision Again

Grayscale Solana and Litecoin ETF Faces Extended SEC Review Period

The U.S. SEC is taking more time to decide on two new crypto ETFs from Grayscale. These ETFs are for Solana (SOL) and Litecoin (LTC), and they would let people invest in these popular cryptocurrencies through regular investment accounts. But for now, the SEC says it needs to do more checks to make sure the products are safe for investors and follow market rules.

Grayscale SOL and LTC ETFs on Hold

Grayscale is willing to introduce its Litecoin and Solana ETFs on the New York exchange named as NYSE Arca. If approved, they would allow people to trade shares backed by real SOL or LTC, without having to own the crypto directly. However, the SEC has delayed making a decision of Grayscale proposal. The agency says it needs more time to see if these Exchange Traded Funds follow the rules under the Securities Exchange Act of 1934.

This delay doesn’t mean the ETFs are being rejected, it just means the process is taking longer. Crypto site Polymarket still sees high chances of approval, with 82% for Solana and 80% for Litecoin by the end of 2025.

BlackRock’s Bitcoin ETF Plan Gets Reviewed

At the same time, BlackRock has proposed a new plan for its Bitcoin ETF. Right now, investors can only redeem shares for cash. But BlackRock wants to allow “in-kind” redemptions, which means investors could swap shares for actual Bitcoin. The SEC has opened the plan for public comments and will use the feedback to decide if this new system is safe and fair for the market.

Ripple’s XRP ETFs Gaining Attention

Ripple (XRP) is also making headlines. Asset management firm Franklin Templeton has pushed a proposal for a spot XRP ETF. This means investors could buy shares that directly track the price of XRP. The SEC must respond to this application by June 17, 2025. If approved, it would be a major step for both retail and institutional investors who want easier access to XRP shocases positive hopes for Grayscale approval.

Even before this, the SEC already gave the green light to XRP futures ETFs from ProShares. These products began trading on April 30, 2025. Although a spot XRP ETF from ProShares is still pending for approval, the introduction of futures Exchange Traded Funds has already made buzz in the market. Plus, earlier this month, Brazil saw the launch of the world’s first spot Ripple ETF by Hashdex.

A Slower but Open-Minded SEC

Under new Chair Paul Atkins, the SEC is taking a more careful approach to crypto. It’s slowing down decisions but giving the public and companies more chances to speak up. This includes open comment periods and discussions about new crypto products.

Even though there are delays, the commission more open attitude could lead to better decisions in the long run. It has also accepted the Dogecoin ETF application from 21Shares and dropped some past cases, one of them is Ripple. All these steps depict that the commission is considering crypto seriously, but wants to get things right. For now Grayscale awaits the decision.