PANews reported on August 15 that the U.S. Securities and Exchange Commission (SEC) has postponed its decision on whether to approve the Solana Exchange-Traded Fund (ETF) proposal. The SEC stated in the submitted documents that the next deadline for the Bitwise Solana ETF and 21Shares Core Solana ETF is set for October 16. Both documents noted: 'The Commission believes that designating a longer period to issue an order approving or disapproving the proposed rule change is appropriate, so that the Commission has ample time to consider the proposed rule change and the issues raised therein.'
The proposal for the SOL ETF is making progress as various companies modified their filing documents last month to gain SEC approval. Companies including Proshares, Grayscale, Canary, and 21Shares are all waiting for SEC approval.
