SEC Initiates Extended Review for Solana ETF Applications

Major asset managers like 21Shares, Bitwise, VanEck, and Canary Capital have filed proposals for spot Solana ETFs. However, the SEC has yet to greenlight any fund linked to Solana, despite previously approving products for Bitcoin and Ethereum.

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In its latest statements, the SEC emphasized that the delay does not signal a decision to approve or reject. Instead, the agency needs more time to evaluate the applications in light of concerns over market manipulation and investor protection—especially for proposals from Bitwise and 21Shares.

This round of review includes a formal public consultation period, inviting market participants to weigh in on the proposals before a final ruling is made.

Final Decision May Not Arrive Until Late 2025

While both 21Shares and Bitwise have strong reputations in crypto asset management, the SEC appears more cautious with Solana, which—despite its fast and low-cost infrastructure—remains outside the current list of approved ETF assets.

Bloomberg analysts James Seyffart and Eric Balchunas continue to express confidence, projecting a 90% likelihood that ETFs for Solana and Litecoin (LTC) will be approved. Still, they acknowledge that decisions may not arrive until late 2025 due to bureaucratic delays.

Investors are urged to remain patient and realistic. The approval process is moving forward—but not at the pace some may have hoped.

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The post Solana ETFs Face Further Delays as SEC Extends Review Period appeared first on Coin Engineer.