The U.S. Securities and Exchange Commission (SEC) has postponed the deadline for making a decision on applications to launch spot Solana-ETF exchange-traded funds. The final decision is now expected to be made no later than October 16, 2025.
This is reported by Business • Media
Which funds is the SEC considering
The SEC is currently reviewing applications from several leading financial companies, including:
- Bitwise Solana ETF
- 21Shares Core Solana ETF
- VanEck Solana Trust
- Grayscale Solana Trust
- Canary Solana Trust
The majority of applications for these investment products were officially accepted by the SEC in February 2025. From that point, a 240-day review period commenced. The regulator explained the deadline extension as a desire to more thoroughly analyze the proposed rule changes and all related issues.
“The Commission finds it appropriate to establish a longer period for issuing a decision on the approval or disapproval of the proposed rule change, so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the documents state.
Forecasts for Solana-ETF approval
The review of Solana-ETF applications is ongoing. In July 2025, the SEC reached out to issuers requesting updated S-1 forms, indicating that the process is actively progressing. At the same time, experts believe that the new deadline could be final.
In particular, Bloomberg Intelligence analyst Eric Balchunas believes that the approval of spot Solana funds could occur as early as summer. He bases this forecast on the launch of similar products by REX Shares and Osprey Funds, which have gone through an alternative registration process.
His colleague James Seyffart also confirmed that the likelihood of Solana-ETF approval is increasing specifically by mid-October, and it is unlikely that the regulator will postpone the deadline further. According to him, this is the last postponement, and a positive decision from the SEC is expected soon.