The U.S. Securities and Exchange Commission (SEC) is approaching the final deadline for its decision on several Solana spot ETF applications. The ruling is scheduled for October 10, 2025. This is a firm deadline, with no option for further delays or extensions.
A group of major financial firms, including Grayscale, VanEck, Fidelity, Franklin, Bitwise, 21Shares, and Canary, have submitted proposals for Solana‑based ETFs. The filings have already been accepted for review, which is a required step before the SEC can issue a ruling.
Current data shows that Solana meets some key conditions. It is “likely viewed as a commodity” by the SEC, and it already has CFTC‑regulated futures trading on U.S. platforms. These factors suggest that the regulatory structure around Solana may be in place to support approval.
Asset Managers Back Solana with Multiple Filings
The number of applicants reflects growing institutional interest in Solana. These are the same firms that were involved in the Bitcoin and Ethereum ETF filings, adding weight to the process. Their participation suggests that Solana is being taken seriously as an asset that could fit into regulated investment products.
Market trackers estimate the chance of approval at 95%, based on current conditions and the SEC’s response to similar filings. If approved, a Solana ETF would open the door for broader participation through traditional investment platforms.
Large Transfers to Exchanges Signal Profit‑Taking
On‑chain records from the last 24 hours show that 150,000 SOL, worth approximately $31.59 million, was moved from Fireblocks Custody to centralized exchanges such as Binance, OKX, Bybit, and Gate.io. These wallets are typically linked to institutional holders.
The movement has raised questions among traders.
As one market watcher noted:
“Whales are selling aggressively on every small pump.”
Breaking up the transfer across multiple exchanges may suggest an effort to manage price exposure while taking profits.
Price Holds Key Level Amid ETF Countdown
Solana remains in a rising trend when viewed on the daily chart. The price structure shows higher highs and higher lows. The most recent low formed near the $185–190 area, a level that has acted as support in the past.
At the time of writing, SOL was trading at $206.20, with daily volume above $5.4 billion. The price is up 3 % in the last 24 hours, while showing a 7 % decline over the past week. If the current trend continues and buyers step in, attention may shift to the recent high near $250. A break above that level could point to renewed upward momentum, especially if the ETF decision results in approval.
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