Solana News Today: Grayscale Files Dogecoin ETF Amid SEC Delays and Growing Institutional Interest

Grayscale has submitted a registration statement for a spot Dogecoin (DOGE) ETF to the U.S. Securities and Exchange Commission just one day after the SEC extended its decision timeline for the 21Shares Solana (SOL) ETF proposal to October 16, 2025 [1]. This filing marks another step in the growing institutional interest in meme-coin-based ETFs, as Grayscale’s application joins existing proposals from Bitwise and REX-Osprey [1]. The firm’s move appears strategically timed to capitalize on its recent success in launching spot Bitcoin and Ethereum ETFs and to diversify its crypto ETF offerings [1].

The SEC’s decision to delay its ruling on the 21Shares Solana ETF reflects a broader trend of regulatory caution in the crypto space [1]. This is the maximum legally allowed extension and suggests the agency is taking a deliberate and methodical approach to evaluating the structural and investor protection implications of crypto ETFs [1]. The extended timeline is part of a pattern observed in recent months, as the SEC continues to reassess the broader impact of digital asset products on the financial markets [2].

Grayscale’s filing follows a recent regulatory development in July 2025, when the SEC approved orders allowing in-kind creations and redemptions for crypto ETFs and permitted applications for spot Bitcoin and Ethereum ETFs [1]. This development signaled a potential shift in the regulatory landscape, though the agency has yet to clarify its stance on Solana or Dogecoin ETFs [1].

Market reactions to the delayed decision have been mixed. For example, Solana’s price dropped from near $210 to $190 following the announcement, influenced in part by broader macroeconomic factors such as U.S. inflation data [2]. Analysts suggest the October 16 decision could serve as a key indicator of the SEC’s future direction [5]. A favorable outcome for Solana ETFs could signal a broader regulatory willingness to approve crypto-based financial products, potentially opening the door for Dogecoin and other meme-coin ETFs to gain approval [5].

The regulatory uncertainty has also prompted industry criticism, with some participants expressing concerns about the opacity of the SEC’s decision-making process [1]. While the agency has justified the delays as necessary for investor protection and market integrity, the extended timeline has also raised questions about the SEC’s ability to manage the increasing volume of crypto ETF applications efficiently [1].

As the regulatory landscape continues to evolve, firms like Grayscale are actively shaping the crypto ETF market by expanding into new assets such as Dogecoin. Their actions highlight the growing institutional interest in meme coins and the broader digital asset market [1].

Source:

[1] title1.............................(https://www.theblock.co/post/367070/us-sec-delays-decision-on-solana-etf-proposals-from-bitwise-and-21shares-to-october)

[2] title2.............................(https://cryptobriefing.com/sec-delays-21shares-spot-solana-etf/)

[5] title5.............................(https://www.blockscholes.com/research)