PANews reported on August 15 that the U.S. Securities and Exchange Commission (SEC) has delayed 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 stated: 'The Commission believes that designating a longer period for issuing an order approving or disapproving the proposed rule change is appropriate in order for the Commission to have ample time to consider the proposed rule change and the issues raised therein.'
Due to various companies modifying their filing documents last month to obtain SEC approval, the proposal for the SOL ETF is making progress. Companies including Proshares, Grayscale, Canary, and 21Shares are all waiting for SEC approval.
