SEC Delays Solana ETF Verdict to October as Investors Flood Into Crypto Alternatives

Regulators hit pause on Solana's ETF fate—kicking the can to October while traders pile into altcoins.

Wall Street's slow dance with crypto continues as the SEC buys time. Again.

Meanwhile, SOL bulls shrug off the delay, betting the blockchain's speed and low fees will outlast bureaucratic foot-dragging. After all, who needs a stamped approval when you've got decentralized finance eating traditional finance's lunch?

One thing's clear: while suits debate paperwork, retail's already voting with its wallet. Just don't expect the SEC to notice before their 3-martini lunch breaks.

Growing demand for Solana staking ETF

While the SEC deliberates on spot Solana ETFs, the first US Solana staking ETF, the REX Shares Solana Staking ETF (SSK), is attracting strong investor interest.

Farside Investors’ data shows that on Aug. 14, SSK recorded a record $13 million in inflows and posted $66 million in daily trading volume, marking its highest activity since its July 2 launch.

These inflows have pushed the fund’s assets under management beyond $150 million in just six weeks. The surge highlights growing demand for Solana-based investment products, even as the broader crypto market faces volatility.

Despite the enthusiasm for SSK and other Solana-focused funds, Solana’s spot price dropped about 6% in the past 24 hours, trading at $191 at press time.

The decline mirrors a broader market correction that has weighed on major cryptocurrencies, including Bitcoin and Ethereum.