Solana ETF Approval Timeline Extended: Bitwise and 21Shares Face Delayed SEC Ruling Until Mid-October

The regulatory path for Solana’s entry into traditional financial markets just got longer. According to reporting on August 15th, the U.S. Securities and Exchange Commission (SEC) has extended its review period for multiple Solana ETF applications, pushing back the decision deadline to October 16th.

The extended timeline affects two major filings: the Bitwise Solana ETF and the 21Shares Core Solana ETF. In its official statement, the SEC explained the rationale behind this postponement, noting that “the Commission believes that it is appropriate to designate a longer period for issuing orders approving or disapproving the proposed rule change to allow the Commission ample time to consider the proposed rule change and the issues raised therein.”

This delay reflects the SEC’s cautious approach to cryptocurrency-linked products, as regulators carefully weigh the technical, market, and custodial considerations specific to Solana’s infrastructure. The extended review period provides the Commission with additional time to thoroughly evaluate the proposals’ compliance with existing regulations and investor protection standards.

The Solana ETF race remains competitive, with several major financial firms positioned in the approval queue. Beyond Bitwise and 21Shares, other notable applicants—including Proshares, Grayscale, and Canary—are also awaiting SEC clearance. These competing proposals demonstrate growing institutional interest in offering Solana exposure through regulated investment vehicles.

The October 16th deadline represents a critical juncture for the Solana ecosystem. Approval of any of these ETF applications would mark a significant milestone, potentially unlocking institutional capital flows and expanding Solana’s accessibility to traditional investors who currently operate within regulated frameworks.