Solana News Today: SEC Pushes Solana ETF Decision to October 2025 Extending Review for Bitwise 21Shares and Grayscale

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on several spot Solana (SOL) ETF applications, pushing the review period for proposals from Bitwise, 21Shares, Canary Capital, and Marinade Finance to October 16, 2025. Grayscale’s application faces a separate deadline of October 10, 2025. The extended timeline allows the SEC more time to evaluate critical aspects such as staking mechanisms, custody solutions, and risk disclosures—key factors in ensuring investor protection and market transparency [1].

This Solana ETF Delay SEC Decision has sparked mixed reactions from the market. While some investors express frustration over the drawn-out process, others interpret the delay as a sign of the SEC’s thorough approach to regulatory scrutiny rather than a rejection of the product. Market data indicates that Solana’s price has remained relatively stable around $190, suggesting that the delay has not yet disrupted investor sentiment [1].

The SEC’s extended timeline also provides ETF issuers with an opportunity to refine their proposals and address potential regulatory concerns. In the past, well-prepared crypto ETF launches—particularly those for Bitcoin—have attracted significant institutional interest and generated robust trading volumes. A methodical pre-launch process could contribute to a more stable and trusted Solana ETF in the long run [1].

Moreover, the SEC recently issued new 12-page guidance in July 2025, outlining updated custody standards, disclosure rules, and risk management practices for crypto ETFs. This framework may reduce the review period for future applications from the current 240-day maximum to as short as 75 days. The guidance adds clarity for issuers and could expedite the approval of subsequent crypto ETFs [1].

Investors seeking exposure to Solana before the ETFs are finalized can turn to alternatives such as the REX-Osprey Sol + Staking ETF, which operates under the 1940 Act and focuses on staking-based returns rather than direct SOL holdings [1].

Analysts like James Seyffart from Bloomberg argue that the delay is a standard part of the approval process and should not be interpreted as a negative signal. Seyffart points out that the SEC has followed similar timelines with other crypto ETFs in the past and has ultimately approved them. Given the regulator’s recent track record with Bitcoin and Ethereum spot ETFs, the chances of a positive outcome for Solana ETFs remain strong [1].

Overall, the Solana ETF Delay SEC Decision reflects the SEC’s cautious and measured approach to integrating crypto products into the traditional financial framework. By taking additional time to evaluate technical and legal considerations, the SEC aims to ensure a secure and compliant product for the market. For long-term investors, this deliberate process may ultimately build greater trust and confidence in the eventual launch of Solana ETFs [1].

Sources:

[1] "Why the SEC’s Solana ETF Delay Might Boost Long-Term Investor Confidence" (https://thebitjournal.com/solana-etf-delay-sec-decision-market-suspense/)