The US Securities and Exchange Commission (SEC) has once again postponed its decision regarding five Solana exchange-traded funds (ETFs), prolonging the regulatory assessment process for investment products linked to Solana (SOL).

The delay affects the Canary Solana Trust, 21Shares Core Solana ETF, Bitwise Solana ETF, VanEck Solana ETF, and Fidelity Solana Fund.

The SEC's delay in making decisions about Solana ETFs has raised questions. Initially expected by April 4, the SEC extended the review period to May 19 for 21Shares, Canary Capital, VanEck, and Bitwise’s applications, possibly leading to further evaluation or approval/disapproval.

On May 19, the SEC did not provide a final ruling but announced solicitation of public comments before making decisions on the applications.

Similarly, the SEC has deferred the deadline for the Fidelity Solana Fund, which was open for public comment since April 9 and was due for a decision by May 24. The SEC decided to extend the review period to July 8 to thoroughly assess the application.

This ongoing postponement of ETF applications is not unique. Prior to the Solana ETF filings, a similar proposal from Grayscale faced SEC delays. Additionally, ETF applications linked to XRP, Litecoin (LTC), and Dogecoin (DOGE) have encountered comparable setbacks, reflecting the SEC's cautious stance towards altcoin-based financial products.

Despite the delays affecting the likelihood of Solana ETF approval by July 31, with the prediction now at a mere 16% on Polymarket, the long-term prospects seem brighter, with predicted chances of approval at 85% by December.

Solana's market price has remained largely unaffected by these developments, seeing a modest 2.7% increase over the past day, with SOL trading at $169.