• The SEC delayed Grayscale’s Solana ETF decision until October 2025.
  • Over 80% of investors expect Solana and Litecoin ETFs to be approved by year-end.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Grayscale’s spot Solana (SOL) ETF. The new deadline has been pushed to October 2025, according to a filing dated May 13. The application aims to list the ETF on the New York Stock Exchange (NYSE).

This move mirrors the SEC’s long-standing practice of using the full 240-day review period. The decision follows a recent delay in the agency’s review of Canary Capital’s Litecoin ETF. Meanwhile, investors are closely watching other crypto ETF proposals. Decisions on ETFs for Polkadot (DOT), XRP, and Dogecoin (DOGE) are all due in June.

ETF Approval Odds Remain High

Grayscale first filed for the Solana ETF earlier this year. The firm hopes to provide regulated exposure to one of crypto’s top-performing layer-1 networks. Spot ETFs offer a direct link to the real-time market price of the asset. These instruments are widely seen as crucial for institutional adoption.

For instance, spot Bitcoin ETFs saw massive inflows after their approval in early 2024. They pushed Bitcoin above $50,000 within a month. Although Solana may not draw Bitcoin-level demand, analysts expect the ETF could unlock billions in capital. Bitget’s Ryan Lee noted that a Solana ETF could drive long-term institutional adoption.

Despite the delay, investor sentiment remains positive. Prediction market Polymarket assigns an 82% probability of approval for the Solana ETF by year-end. It also gives Litecoin’s ETF an 80% approval chance by December. These numbers show confidence in regulatory progress.

The SEC is now preparing for a critical round of ETF decisions in June. Grayscale’s Polkadot ETF is due on June 11. Franklin Templeton’s XRP ETF and Bitwise’s Dogecoin ETF both face deadlines on June 17. Another Polkadot ETF by 21Shares is set for June 24. However, analysts expect further delays. The SEC has consistently opted for cautious, extended evaluations.

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