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SEC Delays Solana ETF Moves from Fidelity

  • The SEC has delayed Solana ETF moves from Fidelity and other firms, prompting revised filings and a new comment window.
  • Major players like 21Shares, Grayscale, VanEck, Bitwise, and Canary are expected to make updated rule changes and resubmissions as per the SEC's directive.
  • The delays were somewhat anticipated, with the SEC seeking revisions related to staking mechanics and in-kind redemption processes by the end of July.
  • While the delays are discouraging, the active review of staking and redemption methods hints that crypto investment products could launch soon if submissions are timely.

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