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- SEC delays ruling on Solana ETF filings from Bitwise and 21Shares until October 16, 2025.
- Market stays positive as Solana price climbs above $200 despite regulatory pause.
The U.S. Securities and Exchange Commission has postponed its decision on Solana ETF proposals from Bitwise and 21Shares, moving the final deadline to October 16, 2025. The regulator had been expected to make a decision by August 17 but opted to use the full extension allowed under federal rules.
SEC Extends Timeline for Solana ETF Review
According to an August 14 filing, the SEC said it needed more time to consider whether Solana-based commodity trust shares could be listed and traded on the Cboe BZX Exchange. This extension is the last one permitted under the Securities and Exchange Act, meaning the commission must either approve or reject the filings by mid-October.
Bitwise first submitted its application on January 28, 2025. The proposal was then published for public comment on February 18, drawing attention from industry watchers. By May, the SEC had started formal proceedings to weigh the merits of the plan. Now, with the extended timeline, Bitwise and 21Shares must wait until October to learn the outcome.
The delay also applies to similar efforts from Canary Funds and Marinade Finance. Bloomberg analyst James Seyffart, who follows the ETF market closely, noted that he does not expect many more postponements of this kind. He suggested the process is nearing its conclusion.
Market participants see the extended review as part of a broader trend. Nate Geraci, president of the ETF Store, told CNBC that investor demand is spreading beyond Bitcoin and Ether, which already have approved spot ETFs.
He believes the eventual introduction of Solana ETFs would mark another step in bringing altcoin products into the mainstream. It is important to add that several other firms continue to push for Solana ETFs. As noted in our previous news brief, seven companies, including Grayscale and Fidelity, have submitted updated S-1s with spot Solana ETFs.
Market Reaction and Wider Policy Moves
It is worth noting that despite the delay, Solana’s price held firm. Data from MarketCap showed SOL trading as high as $209 on Friday, with a daily low of $195.26.
The price gain reflected steady optimism that Solana ETFs could be approved once the SEC completes its review. However, as of today, the Solana price has dropped by 4.53% and is currently trading at $186.50.
Away from the ETF filings, the SEC also issued new guidance that could reshape how companies manage digital assets. The agency said some U.S. dollar-backed stablecoins may be classified as cash equivalents on corporate balance sheets. That decision could encourage businesses to use stablecoins for day-to-day treasury needs, making liquidity operations more efficient.
The two updates, announced in the same week, underline how the SEC is balancing caution with gradual steps toward wider recognition of digital assets. For Solana investors, the next two months will be critical as the regulator moves toward a final decision on the proposed Solana ETF.
In related news, CNF reported earlier that Bloomberg ETF analyst James Seyffart said BlackRock should not be allowed to launch a spot Solana ETF. He noted other issuers such as Grayscale, Fidelity, and ProShares have already submitted their applications to the U.S. Securities and Exchange Commission
