The U.S. Securities and Exchange Commission (SEC) has as soon as extra postponed deciding on Franklin Templeton’s proposed spot Solana ETF, extending the evaluation interval by one other 60 days.
The new deadline is ready for November 14, 2025. The transfer underscores each the rising curiosity in Solana-based funding merchandise and the scrutiny regulators are making use of to them; the slowly-forming crypto regulatory framework within the US gained’t be a wholly simple move.
Franklin Templeton’s ETF Proposal
Franklin Templeton’s proposal facilities on a spot Solana ETF, meant to permit traders direct publicity to SOL via a regulated fund. The itemizing could be beneath the CBOE BZX Exchange’s commodity-based belief shares rule.
That’s a selected authorized framework that the SEC should discover passable by way of transparency, market integrity, and buying and selling protocols.
The Solana ETF hasn’t had a wholly clean course up to now:
- The CBOE BZX alternate filed the request to listing and commerce the Franklin Templeton Solana ETF on March 12, 2025; it was printed within the Federal Register on March 19.
- The SEC delayed its resolution in late April and once more in mid-June, citing the necessity for extra time to evaluate whether or not itemizing and buying and selling necessities had been sufficiently met.
- The most up-to-date extension grants the SEC till November 14 to approve or deny the applying.
- Another Solana ETF utility (from Grayscale) has a choice deadline of October 10, 2025.
Market Impact & Investor Response
The announcement of the delay sparked stunning optimism within the markets. Solana jumped greater than 4% up to now 24 hours, buying and selling round $222.75, amidst hypothesis of a rally towards $250.
In addition, derivatives markets present sturdy curiosity: open curiosity in $SOL futures throughout platforms like Binance and CME rose by 8-11%, whereas general futures open curiosity exceeded $15.5B.
Despite the optimistic momentum, there are elements tempering investor enthusiasm:
- The SEC is wanting intently at whether or not the ETF meets itemizing and buying and selling requirements beneath regulatory guidelines, which nonetheless leaves room for objections or additional delays.
- Trading quantity has slipped barely in latest hours, suggesting some traders could also be ready for extra definitive indicators.
- External macroeconomic situations, corresponding to pending US inflation (CPI) knowledge, might also affect each market sentiment and regulatory urgency.
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Currently, traders count on the SEC to approve the brand new Solana ETF earlier than the brand new November 14 deadline. That might – and will – ship each $SOL and HYPER even greater.
Authored by Bodan Patru, Bitcoinist – https://bitcoinist.com/sec-pushes-back-solana-etf-decision-what-it-means-for-snort
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