SEC postpones decision on Solana ETF until October 2025

According to Crypto News Land, Grayscale's application for an exchange-traded fund (ETF) on Solana submitted to the US Securities and Exchange Commission (SEC) remains pending. The US regulator is delaying a final decision until October this year.

The postponement followed the SEC's extension of the review period for Canary Capital's Litecoin ETF application a few weeks ago. Such regulatory actions brought the market's attention to other upcoming decisions on crypto asset ETFs, particularly concerning Polkadot and XRP. These are still scheduled by the organization for June.

Given Solana's growing institutional appeal, many investors expected a quicker approval, Crypto News Land noted. However, the SEC decided to use the entire review period. This decision goes in line with the commission's consistent approach to cryptocurrency ETF applications seen over the past two years.

Despite the delay, investors remain optimistic. According to decentralized prediction marketplace Polymarket, there is an 82% chance that an ETF on Solana will be approved by the end of 2025.