The United States Securities and Exchange Commission (SEC) has postponed its decision on two proposed Solana exchange-traded funds (ETFs) from Bitwise and 21Shares, setting a new deadline of Oct. 16, 2025.
In filings published on Thursday, the regulator said it needed more time to evaluate the Bitwise Solana ETF and the 21Shares Core Solana ETF. Both proposals aim to list and trade shares on the Chicago Board Options Exchange BZX Exchange (Cboe BZX Exchange) under its Commodity-Based Trust Shares rule.
“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 SEC stated in both filings.
The move aligns with the agency’s practice of extending review periods for cryptocurrency-related ETF applications. Similar delays have been seen with other Solana ETF proposals from Grayscale and Fidelity.
The SEC has been handling a surge in applications for various digital asset ETFs in recent months, including products tied to XRP and Dogecoin (DOGE), amid what market observers describe as a more favorable political climate for the industry.
The decision comes as Solana trades around $192, down from nearly $210 earlier this week. Data from Coinglass shows about $72 million in SOL liquidations over the past 24 hours.
The pullback followed hotter-than-expected United States inflation data that pressured risk assets. The July Producer Price Index (PPI) rose 0.9% against expectations of 0.2%, while the annual figure climbed to 3.3% compared with forecasts of 2.5%.
Market watchers now await October’s deadline to see whether these Solana ETFs move forward or face another delay.
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