Solana News Today: SEC Delays Bitwise Solana ETF Decision to October 16 2025

The U.S. Securities and Exchange Commission has postponed its decision on the Bitwise Solana ETF, extending the review period until October 16, 2025[1]. This marks the latest delay in the regulatory process for Solana-focused exchange-traded funds. The SEC cited the need for additional time to evaluate the updated application and assess broader market implications, aligning with its previous pattern of extending deadlines for cryptocurrency-related ETF proposals.

The decision comes as issuers continue to refine their applications to meet regulatory expectations. Bitwise, alongside 21Shares with its Core Solana ETF, recently updated its filings to align with the SEC’s latest requirements. The SEC’s statement indicated that the extended timeline is necessary to carefully analyze the technical aspects and potential regulatory consequences of approving such products.

The delay is not isolated to Bitwise. The Invesco-Galaxy spot Solana ETF filing has also been officially acknowledged by the SEC, representing a key step in the development of crypto-based investment vehicles[2]. The acknowledgment highlights the increasing interest among institutional investors in offering Solana as an asset class within traditional financial frameworks. At the same time, several other asset managers, including Grayscale, ProShares, and Canary, are also awaiting approval for their Solana ETF proposals.

The SEC’s cautious approach reflects its broader responsibility in balancing innovation with investor protection. The agency has been scrutinizing digital asset products more closely, especially as the number of applications continues to rise. This extended review period is consistent with the SEC’s handling of other cryptocurrency ETF proposals, where multiple rounds of submissions have been delayed before reaching a final decision.

Market activity has remained strong despite the regulatory uncertainty. Bullish, a cryptocurrency exchange and media company, recently made a notable public debut on the New York Stock Exchange, with its shares surging by as much as 218% on the first day of trading[3]. The IPO raised $1.1 billion through the issuance of 30 million shares, demonstrating robust investor confidence in crypto-native firms. Institutional backing from major financial players has further fueled this momentum.

Meanwhile, broader legislative developments are shaping the regulatory landscape. The Trump administration has introduced several pieces of legislation, including the GENIUS Act and the pending CLARITY Act, aimed at creating a clearer regulatory framework for digital assets. These initiatives are seen as contributing to the increasing legitimacy of crypto-related financial products and the willingness of traditional financial institutions to engage with the sector.

The ongoing review of the Bitwise Solana ETF and similar proposals highlights the complexity of integrating cryptocurrencies into mainstream financial markets. While the October 16 deadline provides a concrete benchmark, the extended timeline reflects the SEC’s commitment to a thorough and measured evaluation. For now, investors and market participants remain in a state of anticipation, waiting for a final decision that could shape the future of Solana ETFs in the U.S.

Source:

[1] Blockonomi, https://blockonomi.com/just-in-bitwise-solana-etf-faces-sec-delay-as-key-decision-moved-to-october/

[2] AInvest, https://www.ainvest.com/news/solana-news-today-sec-acknowledges-invesco-galaxy-spot-solana-etf-filing-2508/

[3] CoinGlass, https://www.coinglass.com/ru/news/533267