The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on Grayscale’s spot Solana ETF application to October 2025, delaying a crucial regulatory step for the asset class. This delay follows similar patterns in recent SEC review processes, mirroring the agency’s extended scrutiny of other cryptocurrency ETF proposals. Despite this delay, over 80% of investors anticipate approval of both Solana and Litecoin ETFs by the end of this year. The decision on Grayscale’s Solana ETF filing will come after decisions on Polkadot (DOT), XRP, and Dogecoin (DOGE) are made, expected to occur in June. This is a crucial moment as it’s likely to unlock billions of dollars in capital for the crypto market. Grayscale’s hope is to provide regulated exposure to one of the top-performing layer-1 networks, offering investors direct market access through spot ETFs. Notably, similar to Bitcoin ETFs, analysts believe Solana ETFs could catalyze institutional investment.