US Regulator Extends Review Period for Solana ETFs
The US regulator has prolonged its review period for two Solana exchange-traded funds (ETFs) filings until October 16, 2025.
The SEC stated that this extension provides “sufficient time to consider” the Solana ETF proposals from Bitwise and 21Shares, which were initially set for due on August 17.
According to the Thursday filing, “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 maximum 60-day extension authority serves as the final deadline for either approval or denial of the proposals.
Additionally, the agency has also postponed proposals from Canary Funds and Marinade Finance, as noted by Bloomberg ETF analyst James Seyffart.
He mentioned on X, “Suspect we won’t see too many more of these. We’re expecting standard spot Solana ETFs to be approved by mid-October at the latest.”
Despite the SEC’s delays on altcoin ETF decisions, Nate Geraci, President of The ETF Store, expresses optimism that a wide range of crypto ETFs will be launched in the near future.
In an interview with CNBC, he discussed how favorable regulatory conditions and record inflows into Bitcoin and Ether funds are contributing to altcoin momentum. Geraci believes that the new regulations are likely to trigger a surge of product launches in the coming months.
Andrejs Balans, Risk Manager at YouHodler, conveyed to Cryptonews that aside from Bitcoin and Ethereum, projects such as Solana and Polkadot have garnered institutional interest but are still seen as experimental.
“Only a few of these are likely to survive long enough to gain serious attention from major capital allocators,” he added.
On Thursday, the price of Solana rose to $209 amid rising discussions surrounding the potential Solana ETF launch in the US. According to CoinMarketCap, the 24-hour low and high recorded were $195.26 and $209.67, respectively.
Data from CoinGlass revealed significant buying activity in the derivatives market. Open interest (OI) has approached its recent record of $12, indicating that traders are preparing for a continuation of this upward trend.
Furthermore, crypto liquidations in the past 24 hours have skyrocketed to $800 million, which includes $50 million in SOL long positions.
