The U.S. Securities and Exchange Commission (SEC) has announced an extension for the review of ETF filings for Solana from Bitwise and 21Shares until October 16, 2025. The reason for the extension is to allow for additional consideration of the proposals.
Overview of Review Extension
The original decision deadline was August 17. The SEC decided to exercise its maximum 60-day extension period to further analyze the proposals for listing and trading Solana-based commodity trust shares on the Cboe BZX Exchange.
Solana Market and Expectations
Bloomberg ETF analyst James Seyffart noted that the delay also affects proposals from Canary Funds and Marinade Finance. Nonetheless, approvals for standard spot Solana ETFs are still expected by mid-October. Market sentiment around Solana remains upbeat, with SOL’s price climbing to $209, ranging between $195.26 and $209.67 over 24 hours.
New SEC Rules for Stablecoins
Additionally, the SEC issued interim guidance allowing certain U.S. dollar-backed stablecoins to be classified as cash equivalents on balance sheets. This policy shift could increase the attractiveness of stablecoins for treasury management, streamlining liquidity operations for businesses operating in both traditional and blockchain-based markets.
Overall, the extension of the review period for Solana ETF filings highlights the necessity for careful analysis from the SEC and simultaneously reflects the resilience of the Solana market despite delays in regulatory approvals.