Solana ETF Approval Timeline Extended: What's Driving the SEC's Decision to Push Back to Mid-October?

The U.S. Securities and Exchange Commission has extended its review timeline for multiple Solana ETF applications, with Bitwise and 21Shares now facing a revised deadline of October 16. According to filings disclosed on August 15, the regulatory body determined that additional time was necessary to thoroughly evaluate the proposed rule changes and associated considerations.

The postponement reflects a broader pattern in the cryptocurrency industry, as regulators carefully weigh each application before granting approval. The SEC emphasized in its official documentation that the extended evaluation period would provide adequate opportunity for comprehensive review of the submission materials and any related matters.

Currently, several major financial firms have Solana ETF proposals pending regulatory review. Beyond Bitwise and 21Shares, entities including Proshares, Grayscale, and Canary are all advancing through the approval process. This wave of applications indicates growing institutional interest in gaining direct SOL exposure through traditional investment vehicles.

The modification of filing documents by various applicants during recent weeks appears to have accelerated the review process momentum. These amendments, designed to address regulatory concerns, demonstrate that the ecosystem is moving closer toward mainstream financial product availability. The October 16 deadline serves as a critical checkpoint for determining whether these Solana ETF proposals will finally receive SEC clearance or face further scrutiny.