SEC Delays Franklin Templeton Solana ETF Decision to November

TLDR

• SEC delays Franklin Templeton’s Solana ETF ruling to November 14, 2025.
• Solana ETF decision pushed back as SEC extends final review deadline.
• SEC grants more time before ruling on Franklin Templeton’s Solana ETF.
• Franklin Templeton’s Solana ETF awaits SEC ruling now due mid-November.
• SEC postpones Solana ETF decision, final verdict set for November 2025.

The Securities and Exchange Commission has postponed its decision on Franklin Templeton’s Solana ETF to November 14, 2025. The proposed rule change, initially filed in March, now enters a final review phase. This delay gives the Commission more time to evaluate the filing and associated concerns.

SEC Extends Review Period for Franklin Templeton’s Solana ETF

Cboe BZX Exchange submitted the rule change to list Franklin Templeton’s Solana ETF under BZX Rule 14.11(e)(4). The proposal, filed on March 12, 2025, aimed to list shares of the Franklin Solana Trust. The Commission published the proposal for public comment on March 19, 2025.

On April 29, the SEC extended the initial review period, allowing more time for evaluation and decision-making. Later, on June 17, the Commission formally initiated proceedings under Section 19(b)(2)(B) of the Exchange Act. That move signaled increased scrutiny of Franklin Templeton’s Solana ETF proposal.

According to statutory requirements, the SEC had until September 15 to issue a decision. The final date to approve or reject Franklin Templeton’s Solana ETF is November 14, 2025.

Key Procedural Moves Mark Ongoing Assessment

The SEC continues to assess whether the proposal meets standards for commodity-based trust shares. The agency is reviewing trading structure, market integrity, and potential manipulation risks tied to Solana exposure. Such factors have influenced past cryptocurrency ETF reviews.

Franklin Templeton’s Solana ETF proposal follows a structured path similar to other crypto-related filings. The delay reflects the SEC’s methodical approach rather than a decision on the ETF’s merits. Each extension allows the Commission to gather input and review market implications thoroughly.

This delay comes after prior extensions during the proposal’s lifecycle. Each step followed procedural norms under Section 19(b)(2) of the Securities Exchange Act. These deliberate measures indicate that the SEC seeks comprehensive clarity before finalizing any decision.

November Deadline to Conclude Franklin Templeton’s Solana ETF Review

The Franklin Templeton’s Solana ETF now awaits a definitive ruling in mid-November. This final phase remains critical, as the ETF seeks regulatory approval to trade under established rules. The SEC will either approve or disapprove the application by the new deadline.

Market observers await clarity on the agency’s broader stance toward digital asset products. The Franklin Templeton’s Solana ETF represents one of several filings focused on expanding crypto access through regulated exchanges. Each decision may set precedent for future digital asset ETFs.

While this extension pauses any immediate approval, it aligns with the Commission’s structured timeline. By November 14, 2025, the SEC must conclude its process regarding Franklin Templeton’s Solana ETF filing. Until then, the application remains under active consideration.

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