SEC Extends Solana ETF Deadlines to October 16

The U.S. Securities and Exchange Commission (SEC) delayed decisions on two Solana ETF applications until October 16, 2025. The agency extended review periods for Bitwise and 21Shares proposals that were originally set to expire August 17.

The SEC issued orders on August 14 invoking a 60-day extension allowed under Section 19(b)(2) of the Exchange Act. Both applications seek to list shares on the Cboe BZX Exchange. The agency stated it needs “sufficient time to consider the proposed rule change” for each filing.

The Bitwise Solana ETF and 21Shares Core Solana ETF applications were first published February 18. Under standard SEC procedures, the agency had 180 days to make initial decisions, which would have expired August 17. The commission can extend this period by up to 60 additional days.

The SEC's August 14 filings show other Solana ETF applications under review. The agency's docket includes the Canary Marinade Solana ETF and VanEck Solana Trust applications. These entries appeared on the SEC's rulemaking and “What's New” pages the same day as the Bitwise and 21Shares extensions.

The delays come after the SEC approved spot Bitcoin ETFs in January 2024 and Ethereum ETFs in May 2024. The agency published new guidance in July 2025 covering disclosure requirements and operational mechanics for digital asset funds. The guidance followed approvals for Bitcoin and Ethereum products and related options trading.

The SEC also received multiple applications for ETFs tracking various cryptocurrencies beyond Bitcoin and Ethereum. Solana ranks among the largest cryptocurrencies by market value, making it a target for asset managers seeking to launch new products.

The October 16 deadline represents the final extension period available to the SEC under current rules. The agency must approve or disapprove both applications by that date. Previous crypto ETF decisions have often used the full review period available under SEC procedures.