28.07.2025 17:57

The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on Grayscale's spot Solana exchange-traded fund (ETF), extending the deadline by a further sixty days. This marks another delay in the already protracted process of regulatory approval for this cryptocurrency-linked investment vehicle.

This latest postponement, pushing the final decision date to October 10th, follows a pattern of SEC hesitancy regarding similar altcoin ETFs. The agency cited a need for additional time to thoroughly assess whether the proposed ETF aligns with all necessary listing and trading requirements under NYSE Arca Rule 8.201-E. In essence, the SEC requires more time to fully evaluate the application's compliance standards.

The SEC's announcement triggered a negative market reaction, with the price of Solana (SOL) dropping by over 3% within 24 hours. Investor sentiment, previously buoyed by anticipation of ETF approval, experienced a noticeable downturn as a result of this continued uncertainty. This highlights the significant market impact of regulatory decisions surrounding crypto assets.

Initially submitted by NYSE Arca on January 24th and subsequently published in the Federal Register on February 12th, the Grayscale Solana ETF application faced its first delay on March 11th. The current extension underscores the SEC's comprehensive approach to evaluating the implications of crypto-based ETFs, a process that involves careful consideration of market risks and investor protection. The October 10th deadline represents the SEC's final opportunity to either grant or deny approval for the proposed ETF. The SEC's actions regarding this and other similar altcoin ETF applications are closely watched by the entire cryptocurrency investment community.