Penguins, Doge, and now SOL: The crypto ETF flood is real—but for now, Solana’s moment will have to wait.
Key Highlights:
- The SEC has postponed decisions on the 21Shares and Bitwise Solana ETFs, launching a formal review and comment period.
- Over 70 crypto ETF filings—including Solana, XRP, Dogecoin, and Cardano—are now awaiting SEC action amid a shifting regulatory tone under the Trump administration.
Yello ParadiseSquad, the road to mainstream adoption is paved with delays, and Solana just hit one. On Monday, the U.S. Securities and Exchange Commission formally delayed its decision on the 21Shares Core Solana ETF and the Bitwise Solana ETF, opting instead to open a period of public comment.
The SEC said it was “instituting proceedings” to further evaluate the proposals—a legal-sounding way of saying: we’re not ready, but we’ll listen to your thoughts. This move doesn’t mean rejection, but it’s a clear signal that Solana’s path to ETF status will be slower than some hoped.
Meanwhile, the ETF Queue Is Getting… Wild
According to Bloomberg’s Eric Balchunas, the SEC’s crypto ETF waitlist now includes more than 70 filings, with everything from XRP and Litecoin to Dogecoin, Penguins, and even a “2x Melania” product. Yes, really.
This surge comes on the heels of two historic approvals: spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July—both of which cracked open the door to broader altcoin-based investment vehicles.
Bloomberg’s latest odds favor Litecoin ETFs (90%) and Dogecoin (75%), while Solana’s odds are still climbing, bolstered by strong developer momentum and growing institutional coverage—but they’ve yet to reach front-of-line status.
ETF Delays, But ETP Flows Are Booming
Despite regulatory delays, crypto ETPs saw $785 million in inflows last week, according to CoinShares. That’s five straight weeks of gains, completely reversing the $7 billion in outflows earlier this year.
Assets under management in crypto ETPs have now hit $172.9 billion globally, inching closer to all-time highs.
U.S.-based funds led the charge with $681 million in inflows, followed by Germany ($86.3M) and Hong Kong ($24.2M)—marking Hong Kong’s biggest inflow week since November 2024. Meanwhile, Sweden, Canada, and Brazil saw mild outflows.
Interestingly, Solana-based products actually recorded a net outflow of $0.9 million, despite the ETF spotlight. But XRP and Sui picked up the slack with $5 million and $9.3 million, respectively, reflecting wider market interest beyond the top two coins.
The Bigger Picture: The SEC Is Listening, but Still Hesitating
Let’s be clear—this isn’t the same SEC from 2023. Under the Trump administration, the regulatory tone is softer, more open, and increasingly influenced by political and institutional pressure.
But even in this friendlier environment, the SEC is moving methodically. The Solana delay shows that even top-tier altcoins aren’t immune to red tape. That said, the fact that public comment is being invited is a meaningful step—especially for Bitwise and 21Shares, who are already live in the U.S. with spot Bitcoin and Ethereum ETFs.
We’ll be covering what this means for Solana’s long-term ETF prospects, ETF inflow-driven token rotation, and the hidden gems climbing up the approval ladder in our YouTube stream, with ETF flow projections and token sentiment maps sent to ParadiseFamilyVIP members.
Join MCP News Private for just $3/month to track the ETF queue, decode approval odds, and prepare for the next breakout wave.
Because when the SEC takes longer to say yes, you’d better be ready before they finally do.
