According to ChainCatcher news reported by The Block, 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 filed documents that the next deadline for the Bitwise Solana ETF and 21Shares Core Solana ETF is set for October 16. Both documents state, '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.'
Due to various companies modifying their filing documents last month to gain SEC approval, the proposal for the SOL ETF is making progress. Companies including Proshares, Grayscale, Canary, and 21Shares are all awaiting SEC approval.
