SEC Delays Grayscale’s Solana and Litecoin ETFs, Opens Dogecoin Comments

By: cryptosheadlines|2025/05/15 13:30:07

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com The SEC delays Grayscale’s Solana and Litecoin ETF decisions and opens public feedback for Dogecoin and BlackRock’s ETF redemption changes.Posted byConstance MutharimiPublished on May 15, 2025 at 09:00 AM GSTUpdated on May 14, 2025 at 10:31 PM GSTNewsThe SEC extended its review of Solana and Litecoin ETFs, setting final deadlines for August and October to ensure regulatory compliance.A new public comment phase has opened for Dogecoin and BlackRock’s in-kind redemption model, inviting market feedback on both proposals.Analysts expect ETF delays to continue, with final decisions not anticipated until later in the year following internal SEC meetings.The U.S. Securities and Exchange Commission has extended its review of Grayscale’s proposals to convert its Solana and Litecoin trusts into spot exchange-traded funds. The delay allows the regulator additional time to evaluate whether the proposed listings comply with investor protection standards and trading integrity rules under the Securities Exchange Act.According to filings, the SEC now has until August 11 to decide on the Solana ETF and until October 10 for the Litecoin ETF. The delay falls under a routine evaluation process. Analysts James Seyffart and Eric Balchunas indicated that the delays were expected. They noted that most of the applications are still months away from final deadlines.SEC Focuses on Rule Consistency and Market ProtectionsThe agency cited Section 6(b)(5) of the Securities Exchange Act in its decision to institute further proceedings. This section requires that exchange rules be designed to prevent fraud and manipulation while also protecting public interest. The review will also consider whether the listings promote fair and orderly markets.In a separate move, the SEC opened a public comment period on two other ETF-related proposals. One concerns a new Dogecoin ETF from 21Shares, which seeks to list under Nasdaq Rule 5711(d) for commodity-based trust shares. The other involves an amendment to BlackRock’s iShares Bitcoin Trust, aiming to shift from a cash-only to an in-kind redemption model.Redemption Model Shift Under ReviewBlackRock’s proposed change would allow fund shares to be redeemed using Bitcoin instead of cash. The SEC previously approved the ETF in January with a cash-only model. The current review will help determine if the change maintains investor protections and supports market stability.Crypto prediction platform Polymarket shows strong expectations for approval. It assigns an 82 percent chance for Grayscale’s Solana ETF and an 80 percent chance for the Litecoin ETF to gain approval by the end of 2025. The Dogecoin ETF holds a 62 percent chance of approval by year-end, with a smaller probability of near-term approval.Source link

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