SEC Has 32 Days to Decide on Solana Spot ETF

TLDR:

• The SEC must decide on a Solana spot ETF by October 10, filings show.
• The review period gives the agency 32 days before issuing its decision.
• Approval would mark the first Solana spot ETF in U.S. markets.
• SolanaFloor highlighted the SEC’s October deadline on X.

The U.S. Securities and Exchange Commission (SEC) faces an October 10 deadline to rule on a proposed Solana spot exchange-traded fund (ETF). The timeline was shared in a post by SolanaFloor on X, drawing attention to the countdown.

If approved, the ETF would allow traditional investors to gain exposure to Solana’s price without directly holding the asset. The pending decision follows growing interest in crypto ETFs, including earlier approvals for Bitcoin products.

Solana ETF Countdown to October 10

The SEC’s window to deliver a decision has been confirmed as 32 days. Applicants and market participants now await clarity on whether the regulator will approve, deny, or extend the review period.

The proposal arrives during a time of increased pressure on regulators to provide clearer frameworks for crypto-based financial products. Market watchers suggest that the decision could set a precedent for other altcoin ETFs.

Solana has emerged as one of the leading blockchains for decentralized applications, with strong activity in NFTs, gaming, and DeFi. Its growing ecosystem has made it a candidate for institutional products designed to provide market exposure.

The prospect of an ETF has drawn attention from traders who see it as a potential driver of mainstream adoption. However, the SEC has previously shown caution in approving products tied to assets

Besides, thirteen publicly listed companies have collectively integrated Solana into their treasury strategies, signaling growing institutional interest in the blockchain network.

According to SolanaFloor, these firms now hold a combined 8.91 million SOL, valued at approximately $1.80 billion. This allocation represents about 1.55% of Solana’s circulating supply, suggesting that major corporations are beginning to view SOL as a long-term asset rather than a speculative play.

Solana Market Reaction and Expectations

While the outcome remains uncertain, the approaching deadline has heightened anticipation within the Solana community. Approval could open new investment pathways, while rejection may slow momentum.

Regardless of the decision, the 32-day countdown highlights the growing interaction between crypto markets and traditional finance. The ruling will be closely watched as a signal of the SEC’s approach to non-Bitcoin ETFs.

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