The U.S. Securities and Exchange Commission has pushed its decision on Grayscale Investments’ proposed spot Solana exchange-traded fund to 10 October 2025, extending a review that was scheduled to conclude this summer. Within days of the delay, at least six of the nine prospective Solana ETF sponsors—Grayscale, VanEck, 21Shares, Franklin Templeton, Bitwise and Canary Capital—filed amended S-1 registration statements. Grayscale’s update set a 2.5% annual sponsor fee, while VanEck reminded investors that it oversees about US$116 billion in assets. The filings suggest issuers are aligning their disclosures ahead of the SEC’s next deadline. The burst of activity follows a Cboe proposal to standardise crypto-asset ETP listings. If the rule is adopted, Solana products could become eligible for approval as soon as 17 September—six months after SOL futures began trading. Separately, a coalition including Jito Labs, Multicoin Capital and the Solana Policy Institute urged the regulator to permit liquid-staking tokens in any approved Solana funds, arguing the structure would improve liquidity and investor protection.