SEC Delays Solana ETFs Again – Final Verdict Now Coming October 16
The SEC just kicked Solana ETF hopes down the road—again. October 16 is the new D-day after regulators hit snooze on their decision.
Why the holdup? Typical bureaucratic foot-dragging—or maybe they're waiting for Wall Street to finish loading their bags first. Either way, crypto traders are stuck in limbo while the suits take their sweet time.
Solana's price barely flinched on the news. Guess the market's getting used to Washington's 'hurry up and wait' approach to crypto innovation.
Mark your calendars for October. That's when we'll find out if the SEC actually believes in 'fair markets'—or just loves stringing everyone along.
TLDR
- SEC Delays Verdict on Solana ETFs from Bitwise, 21Shares Until October 16
- Solana ETF Decisions Pushed to October as SEC Seeks More Review Time
- SEC Extends Solana ETF Reviews, Final Rulings Now Due by October 16
- Crypto ETF Watch: SEC Delays Bitwise, 21Shares Solana Proposals
- Solana ETFs Hit Pause: SEC Defers Bitwise, 21Shares Decisions Again
The U.S. Securities and Exchange Commission has extended its decision timeline for two proposed solana exchange-traded funds. The agency now has until October 16 to approve or reject applications from Bitwise and 21Shares. This move aligns with the SEC’s pattern of delaying verdicts on crypto-related ETF proposals.
Bitwise Solana ETF Faces Extended Review Period
The SEC extended its decision on the Bitwise Solana ETF, citing the need for additional time to evaluate the proposal. Bitwise filed to list the ETF through the Cboe BZX Exchange under the commodity-based trust framework. The proposal was first published in the Federal Register on February 18, 2025.
Following the initial review period, the SEC opened formal proceedings in May to access the ETF under section 19(b)(2)(B). That set the clock ticking toward a 180-day deadline, which initially fell on August 17. The Commission has exercised its authority to extend the timeline by an additional 60 days.
Bitwise aims to provide investors with direct price exposure to Solana through a regulated market instrument.The SEC requires more time to evaluate the underlying market structure and related concerns. This extension pushes the final decision to October 16, 2025.
21Shares Core Solana ETF Decision Also Deferred
The 21Shares Core Solana ETF also encountered a delay in the regulatory process, mirroring the timeline of Bitwise’s proposal. The application, filed under the same Cboe BZX Exchange rule, was published alongside Bitwise’s on February 18. The SEC again invoked its authority to extend the deadline to October 16.
As with other digital asset products, the Commission must assess market integrity and investor protection mechanisms before approval. The SEC noted that sufficient time is needed to consider the issues raised in the filing. It also initiated proceedings in May to decide on approval.
This extension aligns with the SEC’s broader handling of crypto-linked ETFs in recent months. Both filings fall under the same statutory framework and timeline. The extension applies equally, as both applications are progressing in parallel.
Broader Regulatory Context and Industry Activity
Since the start of 2024, the SEC has faced a surge in crypto ETF applications. Asset managers have filed for products tied to various tokens, including XRP and DOGE. These applications follow increased regulatory openness under the current administration.
Firms including ProShares, Grayscale and Canary are also waiting for decisions on similar Solana-linked products. However, BlackRock, the world’s largest asset manager, confirmed it has no plans to pursue a Solana ETF. That contrasts with its earlier entries into Bitcoin and ethereum spot ETF markets.
Recent approvals for spot Bitcoin and Ethereum ETFs reflect a shift in the SEC’s stance. In July, the Commission also permitted options trading for some spot Bitcoin ETPs. These developments suggest evolving policy but do not guarantee approval for Solana ETFs.
