What happened?
The U.S. Securities and Exchange Commission (SEC) has extended its review period for Solana exchange-traded funds (ETFs), filed by Bitwise and 21Shares, to October 16, 2025. This delay allows the SEC more time to consider the proposals, originally due on August 17. Additionally, the SEC also postponed decisions on Solana ETF filings from Canary Funds and Marinade Finance, marking the last extension before a final decision.
Who does this affect?
This extension affects investors and stakeholders in the Solana ETFs, including companies like Bitwise, 21Shares, Canary Funds, and Marinade Finance, as well as retail and institutional investors looking forward to investing in these ETFs. Crypto enthusiasts and traders who focus on altcoins are also impacted, as they anticipate the approval for broader inclusion of crypto ETFs. Market participants closely monitoring SEC decisions will need to recalibrate their expectations and investment strategies with this delay.
Why does this matter?
The delay in the SEC’s decision regarding Solana ETFs could impact market dynamics by causing uncertainty in the short term. The anticipation around ETF approval had already contributed to an increase in Solana’s price, which surged past $200 amid discussions of the potential launch. Approval of these ETFs could lead to further market momentum, driving institutional interest and potentially increasing demand and investment in Solana and other altcoins, affecting overall market liquidity and pricing trends.