The Securities and Exchange Commission (SEC) has extended the review period for applications seeking to launch a Spot Solana ETF, signaling a delay in potential approval. This extension comes amidst growing interest in Solana as a blockchain platform due to its high transaction speeds and low costs compared to other networks. The SEC’s decision to extend the review process is driven by their commitment to thorough examination of novel financial products tied to cryptocurrency. The focus on Solana stems from the platform’s prominence in decentralized applications (dApps), NFTs, and DeFi protocols, attracting investors who desire exposure to its price movements without directly managing cryptocurrencies.