Solana ETF Approval Faces Delays as SEC Scrutinizes New Funds

The US Securities and Exchange Commission (SEC) has pushed back its decisions on Solana exchange-traded fund (ETF) applications, extending the review period to October 16, 2025. This delay affects major players like Bitwise, 21Shares, Canary Funds, and Marinade Finance, who had been awaiting approval to list their respective ETFs under Cboe BZX’s Commodity-Based Trust Shares rules. The SEC’s rationale for the extension centers on a need to thoroughly assess investor protections, fee structures, staking behaviors, and market stability before granting approval for spot Solana ETFs.