SEC Begins Review of Solana ETF Filings, Decision Due by October
More from the Author Cal Evans
The SEC is reviewing Solana (SOL) ETF filings from major financial firms, with a decision expected by October 16, 2025, though Solana’s classification as a non-commodity may complicate approval.
If approved, analysts speculate SOL could experience significant price gains, but past Ethereum ETF trends suggest a more cautious outcome.
The cryptocurrency investment landscape is heating up as Solana (SOL) exchange-traded fund (ETF) filings have officially entered the Federal Register. According to FOX Business journalist Eleanor Terrett, multiple institutions, including Grayscale, VanEck, Canary Capital, Bitwise, and 21Shares, have submitted applications to the U.S. Securities and Exchange Commission (SEC). These filings, entered on February 18, 2025, mark the beginning of a 240-day review period, with the SEC expected to reach a decision by October 16, 2025.
Will the SEC Approve a Solana ETF?
The approval of Bitcoin (BTC) and Ethereum (ETH) ETFs in 2024 has opened the door for additional crypto-based ETFs in the U.S. Analysts are now speculating that Solana could be next in line. Bloomberg ETF experts Eric Balchunas and James Seyffart estimate a 70% chance of the SEC giving the green light to a Solana ETF.
However, a potential roadblock exists: the SEC does not currently classify Solana as a commodity. Unlike Bitcoin and Ethereum, which have been treated as such for regulatory purposes, SOL’s classification could become a sticking point in the approval process.
What Would an ETF Mean for Solana’s Price?
If the SEC approves a Solana ETF, investors are eager to see how it could impact SOL’s price. When Bitcoin’s ETF was approved in January 2024, BTC surged from $46,105 to $92,376 within a year—a nearly 100% increase. If Solana were to follow a similar trajectory, its price could reach an all-time high of approximately $343.46.
However, there is no guarantee that SOL will mirror Bitcoin’s performance. Ethereum’s ETF approval in 2024 did not propel ETH to a new high, suggesting that SOL could experience a more muted response even if the ETF is approved.
The Road Ahead
With the SEC’s decision deadline set for October, market participants will be watching closely. The regulatory agency’s stance on Solana’s classification could play a significant role in the outcome, influencing not just the ETF’s fate but also broader institutional adoption of SOL.
As the deadline approaches, investors will be analyzing every development, knowing that an approval could bring a fresh wave of interest and capital into the Solana ecosystem. Whether SOL follows Bitcoin’s explosive rally or takes a more cautious path remains to be seen, but one thing is certain—the coming months will be crucial for Solana’s future in the ETF space.
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