The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on Franklin’s proposed Solana (SOL) exchange-traded fund (ETF). The new deadline for a ruling has been set for November 14, 2025.
This isn’t the first delay:
The application had previously been pushed from April to June, and later in mid-June the SEC opened a formal review process, triggering a 180-day decision window. That 180-day period was due to expire on September 15, but the SEC has now extended the timeline. According to the regulator, the extension is needed to carefully evaluate the proposal and its potential impact on investor protection and market integrity.
Franklin is not alone in seeking approval. Other firms, including Grayscale, VanEck, and 21Shares, have also filed for Solana-based ETFs. Many of those applications are facing similar delays, with some final deadlines set for October. Despite the regulatory uncertainty, Solana’s market price reacted positively to the news, climbing to around $221 at the time of publication.
Analysts note that the outcome of Grayscale’s Solana Trust, expected by October 10, could set a precedent and influence how the SEC handles other pending applications.
