SEC Delays Solana ETF Decision to October Despite Growing Market Optimism

U.S. Solana exchange-traded funds (ETFs) have witnessed another setback in the buildup to their mainstream debut. According to recent reports, the U.S. Securities and Exchange Commission has suspended discussions on a possible SOL ETF approval, with the decision timeline extended to October 16.

SEC Exhausts Extensions on Solana ETF Decisions

Although crypto participants remain optimistic about the approval of a Solana ETF , it may take some time before these investment products receive an official green light. In separate Thursday disclosures, the SEC announced the postponement of Solana ETF reviews for Bitwise , 21Shares , and Canary Capital . 

Bloomberg ETF analyst James Seyffart also revealed that the agency has delayed the review of Marinade Finance’s SOL ETF pitch.

The agency explained that extending the SOL ETF approval timeline will allow enough time to deliberate on all the intricacies regarding the proposals. 

The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, and the issues raised therein.

The U.S. Securities and Exchange Commission

With this recent delay, the commission has exhausted its allowable lifeline for reviewing these investment products. This means that it is obligated to give a definite verdict on the position of these financial vehicles on the set date of October 16.

Interestingly, this isn’t the first time the commission has pushed forward deadlines on crypto-focused investment proposals. In the past year, the SEC has also delayed approval for Grayscale, CoinShares, and Fidelity SOL ETF filings.

SEC Advances Crypto ETF Wave Even As Solana Approval Stalls

Driven by President Donald Trump’s pro-crypto administration, the SEC has seen a wave of crypto ETF applications, including those dedicated to tracking memecoins. However, while Bitcoin and Ethereum exchange-traded funds have been authorized, Solana ETFs are yet to receive such a green light.

In July, the commission ordered issuers to revise their Solana ETF applications in line with the stipulated regulatory requirements.

Over the past year, the SEC has taken a favorable stance towards digital asset-focused investment products. Just last month, the agency voted to authorize in-kind creations and redemptions of crypto ETFs by approved firms.

Crypto ETFs are also leading the market in terms of demand, capturing half of the U.S. ETF launches .

Experts Predict Imminent Crypto ETF Approvals Despite Review Delays

Even with the recent delay in reviewing altcoin-focused ETFs, many market participants believe that a regulatory breakthrough is on the horizon. President of The ETF Store, Nate Geraci, even asserted that several crypto ETFs will debut soon.

In a recent CNBC interview, Geraci noted that favorable regulatory decisions and capital rotations into BTC and Ether have helped propel the momentum of altcoins. According to him, the new regulations will serve as a catalyst for further crypto ETF launches in the coming months.

Seyffart also noted that SOL ETFs will likely get a nod of approval by the October deadline, further reinforcing Geraci’s stance.

Solana Rides Bullish Wave Amid Strong Trading Momentum

SOL is currently exchanging hands at $195 following a strong outing in the past week. Bullish sentiments remain strong, as shown by a high Fear and Greed Index of 60—a sign that investors are confident regarding SOL’s future trends.

Here are other notable SOL market trends as of the time of writing:

• Trading Activity: SOL has surpassed Ethereum in 24-hour perpetuals trading volume, indicating heightened trader interest.
• Market Sentiment: Analysts currently view Solana’s price outlook as positive, supported by technical momentum.
• Technical Strength: Price is trading above the 200-day simple moving average, a key long-term bullish indicator.
• Market Movement: The coin has recorded 17 out of the last 30 days, showing steady upward price movement.

Solana also extended its lead in decentralized exchange sector following a strong surge in the past month. In light of this impressive trend, crypto commentators have revised their Solana price predictions , with some setting a target of $250.