SEC delays Solana ETF decision: Market awaits 'final ruling' in October

The U.S. Securities and Exchange Commission (SEC) has extended the review period for the Solana ETF proposals from #Bitwise and 21Shares by an additional 60 days, with the final deadline set for October 16. This is the final extension under regulation, following delays from March and May.

The applications #ETFSolana submitted on January 28 and opened for public comment are now again temporarily halted by the SEC, citing the need for more time to assess the transparency, oversight, and regulations surrounding whether Solana is a commodity or a security. This is seen as a key factor that may impact the entire ETF roadmap for other altcoins.

According to expert Shawn Young (MEXC Research), although Solana has made progress in liquidity, custody, and institutional interest, concerns about network stability and power concentration still exist. Vincent Liu (Kronos Research) noted: “The Solana ruling will set a precedent, determining whether this is an open door or a pause button for altcoin ETFs.”

In addition to Bitwise and #21Shares , there are proposals from Canary Funds and Marinade Finance awaiting approval, while BlackRock confirms it has no intention of launching a Solana ETF.

Many analysts, including James Seyffart (Bloomberg), expect the Solana ETF could be approved by mid-October, providing significant momentum for the altcoin market.