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SEC Keeps Pushing Solana ETF Decisions

After another set of pushes, now to mid-October, institutional SOL access is being put on hold.

Bankless
Aug 15, 2025 • 1 min read

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The U.S. Securities and Exchange Commission pushed the review of spot Solana Solana ETF proposals from Bitwise, 21Shares, and VanEck to mid-October, with the Commission justifying the decision on the basis of giving itself more time to assess investor protections.

What’s the Scoop?

Extended Deadline: On Thursday, the SEC delayed its decision date for the Bitwise and 21Shares SOL ETFs to October 16, 2025. This is the final extension, making the deadline a drop-dead date for approval of all spot SOL ETFs.
Public Comment Window: The SEC has opened a public consultation period to gather feedback on investor protection and broader policy considerations.
Institutional Interest Remains: Analysts cite "real demand" for a Solana ETF, and many remain confident on October approval despite the delay.

Bankless Take:

Crypto spot ETF approval has never been a straightforward process. While a higher concentration insider SOL holdings compared to the distributions of BTC and ETH could stand as a hurdle to approval, it remains unclear why the SEC may consider denying pending applications.