SEC Delays Grayscale’s Solana ETF Decision Again
Following a delay in Truth Social’s Bitcoin ETF, the U.S. SEC has once more postponed Grayscale’s application to convert its Solana Trust into an ETF—this time by an additional 60 days. The previous postponements occurred in March and May.
According to the new filing, a final ruling is now set for October 10, when the SEC will either approve or deny the ETF conversion. Other issuers—like VanEck, 21Shares, and Canary Capital—have also submitted Solana ETF applications.
In mid-June, these filings were revised to align with the SEC’s feedback regarding staking practices and in-kind redemptions. Optimism is growing, especially after the Rex Osprey SOL Staking ETF surpassed $133 million in assets.
Bloomberg’s Eric Balchunas noted on X that the SEC currently holds 72 crypto ETF applications, covering a wide range of tokens such as Bitcoin, Solana, Litecoin, XRP, Dogecoin, and Cardano. The SEC is legally required to issue final decisions on all of them before the end of 2025.
