- Solana ETF faces third SEC delay, with the decision now postponed until October 10, 2025, for further review.
- More time is needed to analyze the applications and address the proposed rule changes thoroughly.
- Interest in crypto ETFs continues to grow, despite delays, with BlackRock’s Bitcoin ETF nearing $100 billion in assets.
The U.S. Securities and Exchange Commission (SEC) has postponed its ruling on two significant applications of cryptocurrency exchange-traded funds (ETFs). The first is a Trump Media & Technology Group to be applied as a Bitcoin ETF under the brand name Truth Social. The second, by Grayscale, is a Solana ETF. Both rulings have been deferred, and fresh dates have been fixed on September 18 and October 10, respectively.
The official release indicates that the Truth Social Bitcoin ETF has been submitted in June 2025, and the SEC has until the middle of September to accept or dismiss the proposal. The same thing has happened to the Grayscale Solana ETF, which received a delay and is not due a decision until the middle of October. The SEC, in its official declaration, attributed this to the fact that it required more time to go through the applications carefully.
Solana ETF and Crypto ETF Rulings
The SEC clarified that the long delay in review was necessary to analyze further. The commission will work to resolve all the problems posed by the proposed rule changes. This is the third setback suffered by Grayscales Solana ETF, and the SEC had already extended the review process in March and May.
The proposal of a Bitcoin ETF by Trump Media & Technology Group is not the only attempt of the company to become a participant in the world of cryptocurrencies. As with the Bitcoin ETF, the company has also made other proposals, such as a Crypto Blue Chip ETF and a Bitcoin and Ethereum fund. This indicates that the company is keen on diversifying its digital assets.
Source: Flickr
Also Read: Solana August Prediction: What Happens If It Breaks $200?
Grayscale Solana ETF Proposal
In February, Grayscale filed an initial proposal for its Solana ETF with NYSE Arca. In June, the SEC requested that the filing be amended with further clarity over terms covering aspects of staking and in-kind redemptions. The SEC is keenly assessing the issue of how the fund intends to manage staking rewards and redemption procedures.
Crypto ETFs take a maximum of 270 days to be reviewed by the SEC. Currently, the U.S. Financial Authority is reviewing 72 crypto ETF applications. Nonetheless, interest in ETFs that focus on crypto continues. The BlackRock Bitcoin ETF, as an example, is on the verge of reaching a figure of $100 billion in assets managed.
Such delays are accompanied by the industry awaiting the final actions of the U.S. Financial Authority. Acceptance of such ETFs would represent a turning point in increased institutional adoption of cryptocurrency. Investors and traders now await the actions of the U.S. Financial Authority on how it will influence the future of crypto ETFs.
Also Read: PayPal Launches ‘Pay with Crypto’ Supporting 100+ Tokens and Top Digital Asset Wallets
