SEC Delays Solana ETF Approval; SOL Price Reacts
SEC Pushes Back Decision on Solana ETFs
The U.S. Securities and Exchange Commission (SEC) has extended the review period for proposed Solana ETFs from Bitwise and 21Shares. The new deadline for a decision is set for October 16, 2025.
Both Bitwise and 21Shares are seeking to list and trade shares on the Cboe BZX Exchange under its Commodity-Based Trust Shares rule.
SOL Price Dips Amidst ETF Uncertainty, Inflation Data
The SEC's delay coincides with a price correction for Solana (SOL). After approaching $210, SOL has retraced to around $190. Recent data indicates significant liquidations in SOL positions.
- SOL Price: Currently trading near $190.
- Liquidations: $70 million in SOL liquidations recorded in the past 24 hours.
The price pullback occurred following the release of higher-than-anticipated U.S. inflation figures. The July Producer Price Index (PPI) showed a 0.9% increase, exceeding the expected 0.2%. The annual PPI climbed to 3.3%, surpassing forecasts of 2.5%. This data has impacted risk assets across the board.
Implications for Solana and Crypto ETFs
The SEC's continued caution regarding crypto ETFs highlights the regulatory hurdles facing the industry. While Bitcoin ETFs have gained approval, altcoin-based ETFs are still under scrutiny. The delay suggests the SEC requires more time to assess market surveillance and investor protection aspects related to Solana.