The SEC delays its decision on Bitwise and 21Shares Solana Spot ETFs to October 16, 2025, using the legally allowed maximum time.
Several issuers, including ProShares, Grayscale, and Canary, adjust their filings to meet transparency and liquidity requirements, while BlackRock has no plans to launch a Solana ETF.
SEC approval of a Solana spot ETF could open the doors to institutional flows and increase SOL’s visibility.
Pas de nouvel ETF Solana Spot pour le moment
The market was anticipating a swift decision, but the US Securities and Exchange Commission (SEC) has opted to extend the deadline. The two Solana Spot ETF proposals from Bitwise and 21Shares will not be decided before October 16, 2025.
For investors, this is a signal that American regulation is progressing, albeit at its own pace. As usual, the agency is using the maximum legal timeframe to analyze the file and the ‘questions raised’ before giving the green light or not.
Une stratégie bien rodée à la SEC
This extension is not unusual. Whether it’s Bitcoin, Ethereum, or other cryptos, the SEC is extending deadlines before reaching a decision. Grayscale, Fidelity, ProShares, Canary, and 21Shares have already experienced these regulatory pauses on their own Solana ETF projects. The same goes for other cryptos like XRP, DOGE, and many more waiting in line.
Since the arrival of a more crypto-friendly administration, the number of filings has surged. Dozens of crypto ETF projects await a decision, indicating that major financial players anticipate a gradual opening of the US market.
Le marché des ETF Solana se structure
Behind the scenes, several issuers adjusted their applications last month to maximize their chances. These changes aim to adhere to SEC requirements, particularly regarding transparency and liquidity. Among the candidates: ProShares, Grayscale, Canary, and 21Shares… but not BlackRock. The global asset management giant, already positioned in Bitcoin and Ethereum ETFs, confirmed that it has no plans to launch a Solana ETF.
This absence could benefit competitors hoping to quickly capture institutional demand once approval is granted.
Un virage réglementaire en toile de fond
The context is very different from two years ago. Last July, the SEC approved the ‘in-kind’ creation and redemption for crypto ETFs, facilitating liquidity management. The agency also approved requests to list and trade spot Bitcoin and Ethereum ETFs, as well as options on some of them.
Under the Biden administration, Bitcoin and Ethereum spot ETFs became a reality after a key court ruling. Now, Solana could follow the same path via Trump, but nothing is guaranteed yet.
Ce que ça change pour Solana
A validated Solana spot ETF in the US would have a direct impact on the asset’s liquidity and visibility. Institutional flows could open up, expanding access to SOL for investors who have not yet taken the leap. But as long as the SEC delays, the market remains in anticipation, with each extension either maintaining pressure on the asset’s price… or creating even more anticipation?
October will be a crucial month. Until then, all eyes will be on Washington, hoping that Solana becomes the next big winner in the crypto ETF revolution.
