What happened?
Solana (SOL) has gained attention with a price increase of 4.5% this week, trading near $193.33. This increase comes despite the U.S. Securities and Exchange Commission (SEC) delaying decisions on Solana-based exchange-traded funds (ETFs) until October 16, 2025. The SEC is extending its deadline to address concerns about market integrity and investor protection related to Solana.
Who does this affect?
This situation primarily affects investors and institutional entities interested in Solana-based ETFs, such as Bitwise and 21Shares. Companies like REX Shares have seen significant inflows into their Solana Staking ETF, despite regulatory uncertainty. Major financial players, including Grayscale, Fidelity, and ProShares, have filed for Solana-related ETFs, while BlackRock remains focused on Bitcoin and Ethereum.
Why does this matter?
The market impact is significant as Solana’s rising price and institutional interest suggest confidence in its future, even amidst regulatory delays. If the SEC approves Solana ETFs, it could lead to substantial capital inflows, similar to Bitcoin and Ethereum’s spot ETFs. Technical indicators show Solana is maintaining a bullish trend, hinting at potential further gains, making it a promising digital asset for investors.