#SEC Delays Solana ETF Application

The U.S. Securities and Exchange Commission (SEC) has extended the deadline for making decisions on multiple proposals for Solana-based exchange-traded funds (ETFs). The agency stated that it needs more time to review the legal and policy issues related to applications from 21Shares, Bitwise, VanEck, and Canary Capital. However, these delays do not indicate whether the regulators will approve or reject these funds. What impact will this move have on the cryptocurrency market?

‍#Exchange ETH Supply Drops
Over the past month, over 1 million ETH have been withdrawn from centralized exchanges, representing roughly 5.5% of the total ETH held on these platforms. This pattern indicates that users are increasingly opting to hold onto their Ethereum rather than trading it. The recent Pectra upgrade, launched on May 7, could further reinforce this trend, potentially exerting upward pressure on Ethereum’s price. What do you think about this?

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