Catenaa, Friday August 15, 2025- The US Securities and Exchange Commission said it had postponed decision on proposals for Solana ETF from Bitwise and 21Shares, to October 16.
The agency said the extension would allow more time to review the proposed rule changes and address issues raised in the filings.
The postponement is consistent with the SEC’s practice of extending timelines for crypto-related ETF applications.
Similar delays have affected other Solana ETF proposals from firms including Grayscale and Fidelity. The wave of applications follows a shift toward more favorable cryptocurrency policies under the current administration, which has seen proposals for a wide range of digital asset ETFs, from XRP to DOGE.
Several asset managers adjusted their Solana ETF filings last month in an effort to meet regulatory expectations.
ProShares, Grayscale, Canary, 21Shares and others await the SEC’s decision, though BlackRock confirmed it has no plans for a Solana product despite its presence in bitcoin and Ethereum ETF markets.
The SEC’s stance on crypto ETFs has evolved notably over the past year. In July, the commission approved in-kind creations and redemptions for crypto ETFs and allowed applications to list and trade spot bitcoin and Ethereum ETFs, as well as options on certain bitcoin products. Spot bitcoin ETFs were approved early in the Biden administration, followed by Ethereum ETFs after a key court ruling.
The October decision could set the tone for how quickly other pending Solana ETF proposals advance through the regulatory process.
