August 15, 2025｜Crypto & Finance News
The U.S. Securities and Exchange Commission (SEC) has once again extended its review of two Solana (SOL) spot ETFs, leaving investors waiting longer for a final verdict.
Extension Details
On Thursday, the SEC announced that it will delay its decision on the Bitwise Solana ETF and 21Shares Core Solana ETF until October 16, 2025.
In its filing, the SEC stated that the extension is intended to “allow sufficient time to consider the proposed rule changes and the issues raised therein.” The move is consistent with the agency’s established practice of extending reviews on crypto-related ETF applications.
Growing ETF Applications & Regulatory Caution
Similar delays have also affected Solana ETF applications from Grayscale and Fidelity, suggesting such extensions have become routine in the SEC’s handling of crypto ETFs.
Since the U.S. government began signaling a more crypto-friendly stance, the SEC has received dozens of ETF applications covering assets ranging from XRP to DOGE to Solana.
Applicant Adjustments to Meet Requirements
To improve approval odds, applicants have been revising their proposals to better align with regulatory expectations. Major players such as ProShares, Grayscale, Canary, and 21Shares remain in the queue, awaiting the SEC’s green light.
BlackRock Stays on the Sidelines
Notably, global asset management giant BlackRock has chosen not to participate in the Solana ETF race, publicly stating last week that it currently has no plans to launch a Solana fund.
📌 Analysis:
The SEC’s cautious approach highlights the ongoing tension between traditional financial regulation and the rapidly growing crypto industry. For investors, October 16 is shaping up to be a key date that could define the future of Solana-based ETFs in the U.S. market.
