SEC Postpones Review of 21Shares and Bitwise Solana ETFs in the US

• SEC postpones decision on Solana ETFs
• Investors await the advancement of cryptocurrency ETFs
• Cryptocurrency ETP inflows total $7,5 billion

The U.S. Securities and Exchange Commission (SEC) has postponed a decision on two Solana-linked exchange-traded funds (ETFs) filed by asset managers 21Shares and Bitwise. The regulator said it is establishing procedures to evaluate the applications, while also opening the floor for public comment on the proposals.

“The filing of proceedings does not indicate that the Commission has reached any conclusions,” the SEC said in a filing. The regulator added that it “seeks and encourages interested persons to provide comments on the proposed rule change.”

21Shares already operates in the US through its Bitcoin and Ethereum ETFs in partnership with Ark Invest. The company recently expanded its listings to include other assets, such as Solana, Dogecoin, XRP and Polkadot. Bitwise has also been expanding its presence in the digital assets sector.

⛔️ #sol SEC postponed a decision on Solana ETF launch applications from #21Shares and #Bitwise pic.twitter.com/v9yWaJ9bRy

— dapp.expert (@Dappexpert) May 19, 2025

With the market paying close attention to the possible approval of altcoin ETFs, the SEC is evaluating more than 70 applications that range from established cryptocurrencies — such as XRP, Litecoin and Cardano — to bolder proposals, such as thematic and leveraged ETFs.

Bloomberg analyst Eric Balchunas described the current queue as “wild,” citing filings that include references to “Penguins, Doge and 2x Melania.” Litecoin ETFs have a 90 percent chance of approval, while Dogecoin ETFs are estimated to have a 75 percent chance of approval, according to estimates from February.

Even with regulatory uncertainty, investments in cryptocurrency ETPs continue to grow. Data from CoinShares indicates net inflows of US$785 million in the last week, totaling US$7,5 billion in 2025. The US led the contributions with US$681 million, followed by Germany (US$86,3 million) and Hong Kong (US$24,2 million).

Despite the hype generated by Solana ETFs, products based on the asset recorded net outflows of $0,9 million during the period. On the other hand, XRP attracted $5 million, while Sui led with $9,3 million in inflows. Cardano and Chainlink also showed positive performance, albeit more muted.