The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Solana ETF proposals from Bitwise and 21Shares, moving the final deadline to October 16, 2025. This decision was unexpected for the market.
New Deadline for Solana ETF Review
The SEC stated that it needed more time to consider whether Solana-based commodity trust shares could be listed and traded on the Cboe BZX Exchange. This extension is the last one permitted under the Securities Exchange Act, which means the commission must either approve or reject the filings by mid-October.
Market Reaction to the Delay
Despite the delayed decision, Solana's price remained steady, fluctuating between $195.26 and $209. The optimism regarding the potential approval of Solana ETFs remains, although currently, the price has dropped by 4.53% and is at $186.50.
SEC Policy and Potential Changes
In addition to the delay regarding Solana ETFs, the SEC also issued new guidance that could reshape how companies manage digital assets. Some U.S. dollar-backed stablecoins may be classified as cash equivalents on corporate balance sheets, which could enhance effective liquidity management.
The next two months will be crucial for Solana investors as the SEC approaches a final decision on the proposed Solana ETF.
