Solana ETF Decision Delayed: What It Means for the Crypto Market
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale's proposed solana Trust ETF, setting a new deadline for October 10, 2025. This delay allows regulators more time to assess the fund's potential listing on NYSE Arca, as the demand for spot crypto ETFs continues to rise amidst evolving regulatory frameworks. Market analysts view this extension as a standard procedural step rather than a reflection of the proposal's viability. The deferral comes at a time when institutional interest in Solana and other digital assets is growing, signaling a broader acceptance of cryptocurrencies in traditional finance. This development could have significant implications for Solana's price trajectory and the overall crypto market, as investors await further clarity from regulators. The extended timeline also provides an opportunity for Grayscale to address any potential concerns raised by the SEC, potentially paving the way for approval later this year.
SEC Delays Grayscale Solana ETF Decision, New Deadline Set for October 10
The U.S. Securities and Exchange Commission has deferred its ruling on Grayscale's proposed Solana Trust ETF, pushing the deadline to October 2025. This extension grants regulators additional time to evaluate the fund's potential listing on NYSE Arca, as applications for spot crypto ETFs surge amid shifting regulatory landscapes.
Market participants largely interpret the delay as procedural rather than indicative of the proposal's ultimate fate. The outcome carries significant weight as institutional demand for crypto investment vehicles intensifies, with Solana emerging as a focal point in the expanding ETF arena.
Solana (SOL) Price: Bull Flag Breakout Signals Rally Toward $300
Solana's SOL token has surged past key resistance levels, confirming a bull flag breakout that technical analysts believe could propel prices toward the $280–$300 range. The cryptocurrency currently trades near $192, with momentum indicators and rising volume supporting the bullish thesis.
Chart patterns suggest a potential 66% upside from current levels, targeting $295—a price point aligned with previous cycle highs. Traders are now watching interim resistance at $200 and $206, while $187 serves as critical support.
Market observers highlight SOL's consistent higher lows since late June, with the recent breakout accompanied by strong buying pressure. The MOVE echoes a similar falling wedge pattern that preceded April's rally.
Solana's SOL Price Rally Cools as Whale Interest Shifts to Remittix
Solana's SOL retreated to $189.84 after briefly surpassing $200, as rising Liveliness metrics signaled increased selling pressure from long-term holders. Network growth faces headwinds with a 1.4 million drop in new addresses over 48 hours, reducing buying support at current levels.
Meanwhile, crypto whales are pivoting toward Remittix's payment infrastructure project, which has raised $17.5 million at $0.0876 per token. Open Interest reset from $12.01 billion to $10.56 billion cleared excessive leverage, leaving room for more stable price action if sentiment improves.
Solana's Weekly Decline Deepens as Bearish Sentiment Builds
Solana's SOL token has extended its weekly losses to 6%, trading NEAR $184 after failing to sustain momentum above $200. The pullback contrasts sharply with last month's 22% rally, signaling a potential shift in market dynamics.
Derivatives data reveals growing skepticism among traders, with $1.28 billion in short positions dwarfing $924 million in long bets. The Spent Output Profit Ratio's decline to 1.00 suggests investors are liquidating positions at breakeven levels—a classic warning sign of waning confidence.
Technical support at $175 now serves as a critical line in the sand. A breach could accelerate selling pressure despite the network's fundamental strengths. Meanwhile, the SEC has pushed its decision on a Solana ETF to October 2025, though analysts maintain 82% approval odds.
