While fund issuers continue to float new crypto ETFs in the US after the launch of BTC and ETH funds this year, the Securities and Exchange Commission appears to be in no rush to approve them.

The prospect of spot solana ETFs seeing approval anytime soon, for example, has recently taken a major hit.  

Confirming previous reports, a source familiar with the filings told Blockworks the SEC essentially rejected plans filed by stock exchange Cboe on behalf of 21Shares and VanEck. 

The agency seems to be “of the position that solana is a security and not a commodity,” the person added.

This differs from ETH, which essentially had its status as a commodity clarified upon the SEC’s…

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