In what is sure to be a worrying development for the crypto market, Solana ETF filings have reportedly been removed from the Chicago Board Options Exchange (CBOE) website, causing many to worry that the applications could be delayed by the U.S. Securities and Exchange Commission (SEC), or worse, rejected outright.

Solana was seen as the token most likely to receive the next crypto-based ETF in the US. This year, Bitcoin and Ethereum have already been approved. However, this time it might be different. There has been speculation that SOL could be considered a commodity. This makes the ETF process increasingly complicated.

Also read: Solana ETF gets green signal from Brazilian regulator

SOL ETF filings disappear from CBOE website as concern spreads

ETFs have been the focus of the crypto sector this year, with both BTC and ETH starting investment offerings in 2024. Still, traders are eagerly awaiting which tokens might be next in line. However, today has certainly threatened what has long been considered the next in line.

The Solana ETF applications were removed from the CBOE website today. In fact, the removal raised concerns about the ongoing application process, particularly as to whether a rejection had already occurred. The SOL ETF applications were missing from both VanEck and 21Shares.

Also read: Solana ETF hopes for rising price as SOL approaches $200 mark

Pseudonymous X-user (formerly of Twitter) SummersThings found that both issuers’ July filings are no longer listed. In addition, they identified a rather confusing aspect of the filings. The user notes that the SEC “never issued filing notices” for either filing.

This calls into question the prospect of a SOL ETF in the US. The market largely assumed that the product would launch sometime in 2025. But that may no longer be likely. Since the Ethereum ETF had a rocky start, many factors could work against Solana when it comes to ETF approval.