Solana News Today: SEC delays Solana ETF decision until October 16 amid regulatory scrutiny

The U.S. Securities and Exchange Commission (SEC) has extended its review of proposed Solana (SOL) exchange-traded funds (ETFs) to October 16, 2025, marking the maximum allowable 60-day procedural delay under current rules [1]. The decision impacts applications from Bitwise and 21Shares, both of which seek to list Solana ETFs on the Cboe BZX Exchange. The SEC’s orders, issued by the Division of Trading and Markets, cited the need for “sufficient time to consider” proposed rule changes under BZX Rule 14.11(e)(4), which governs Commodity-Based Trust Shares [3]. This move exhausts all procedural extensions short of a final decision.

The applications, initially submitted in January 2025, have already undergone a review in March and May 2025. The latest delay, while not a rejection, highlights the SEC’s continued scrutiny over market manipulation risks and the adequacy of surveillance-sharing agreements [3]. These measures are central to the agency’s evaluation of whether a Solana ETF can operate within a compliant and investor-protected framework.

Market reactions have been mixed. Solana-linked tokens, particularly meme coins, experienced sharp declines in the wake of the delay, with some dropping over 8.5% in 24 hours [1]. However, institutional interest in Solana remains robust, driven by advances in custody solutions, liquidity depth, and the development of futures markets, including CME Solana contracts [1].

The outcome of the SEC’s decision could set a significant precedent for the approval of other altcoin ETFs. Analysts suggest that Solana may serve as a bellwether, with an approval potentially opening the door for applications from major issuers like ProShares, Grayscale, and VanEck [5]. Conversely, a rejection or stringent conditions could signal a more cautious regulatory stance toward non-Bitcoin and non-Ethereum crypto assets.

The October 16 deadline now serves as a critical marker for the industry. Investors and market participants are closely watching whether the SEC will approve the proposed ETFs or impose further conditions. The agency’s final decision will not only affect Solana’s market dynamics but also shape the broader regulatory environment for crypto-based investment products in the U.S. market [5].

Source: [1] Yahoo – [https://finance.yahoo.com/news/sec-punts-decision-deadlines-solana-015620357.html](https://finance.yahoo.com/news/sec-punts-decision-deadlines-solana-015620357.html)

[2] FinanceFeeds – [https://financefeeds.com/sec-pushes-solana-etf-decision-to-october-citing-market-and-regulatory-concerns/](https://financefeeds.com/sec-pushes-solana-etf-decision-to-october-citing-market-and-regulatory-concerns/)

[3] Cryptonews – [https://cryptonews.com/news/solana-etfs-face-sec-delay-decision-postponed-to-october/](https://cryptonews.com/news/solana-etfs-face-sec-delay-decision-postponed-to-october/)

[4] CryptoDnes.bg – [https://cryptodnes.bg/en/solana-breaks-past-200-as-institutional-buying-and-etf-hopes-ignite-rally/](https://cryptodnes.bg/en/solana-breaks-past-200-as-institutional-buying-and-etf-hopes-ignite-rally/)

[5] Decrypt – [https://decrypt.co/335387/sec-punts-decision-deadlines-for-solana-etfs-by-two-months](https://decrypt.co/335387/sec-punts-decision-deadlines-for-solana-etfs-by-two-months)