Solana ETF Approval Timeline Extended: SEC Pushes Bitwise and 21Shares Decision to Mid-October

The U.S. Securities and Exchange Commission has announced a significant delay in its review process for multiple Solana ETF applications. According to Thursday’s official statement, the regulatory decision square for both the Bitwise Solana ETF and 21Shares Core Solana ETF has been extended to October 16, marking another postponement in the ongoing approval saga.

The SEC justified the delay by emphasizing the need for adequate review time. “Designating an extended period for deliberation is appropriate to ensure comprehensive evaluation of the proposed rule modifications and all pertinent considerations raised throughout the application process,” the commission stated in its filing.

This extension reflects the SEC’s cautious approach to digital asset products. Beyond Bitwise and 21Shares, other major financial institutions pursuing Solana ETF approvals have similarly encountered setbacks. Applications submitted by Grayscale and Fidelity have also been pushed back, underscoring the broader regulatory timeline challenges facing the sector.

The October 16 decision date now represents a critical juncture in the decision square for Solana spot ETF products. Market participants have been monitoring these filings closely, as approval would represent a major milestone for Solana’s institutional adoption and could potentially reshape the landscape for alternative blockchain asset exposure among traditional investors.