The U.S. Securities and Exchange Commission (SEC) has decided to extend the review period for a series of proposals to establish an ETF (exchange-traded fund) tracking Solana (SOL). This information was confirmed through separate legal documents filed on Monday, indicating that the relevant applicants include 21Shares, Bitwise, VanEck, and Canary Capital.
The SEC stated that the agency needs more time to thoroughly assess the legal and policy issues related to the aforementioned proposals. While this delay decision is closely monitored by many investors, the SEC emphasizes that the extension of the deadline does not imply that they will approve or reject any ETF.
"The filing of the application does not mean that the Commission has reached any conclusions regarding the issues raised," the SEC stated in a notice on Monday. At the same time, the agency also encourages interested parties to continue submitting feedback related to the proposed regulatory changes.
Currently, Solana is one of the leading blockchains expected to have a publicly traded ETF like Bitcoin and Ethereum. However, the SEC's approval process is still facing many obstacles, especially in the context of a highly debated and unclear legal environment in the U.S. regarding the digital asset industry.
The SEC's decision to delay is not surprising, as the agency frequently exercises its extension authority to allow more time to review legal, technical, and market factors. However, this move continues to increase investor attention on the possibility of Solana ETF approval in the near future.
