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SEC Delays Decision on Bitwise Invest Spot Solana ETF

The SEC invoked its maximum 60-day extension, delaying decisions on proposals from Bitwise, 21Shares, Canary Funds, Marinade Finance, and an Invesco Galaxy Solana ETF until October 16 amid regulatory review.

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Fact Check
The statement is directly confirmed by multiple pieces of evidence. Specifically, sources from The Defiant and Cryptopolitan explicitly state that the SEC has delayed its decision on the spot Solana ETF proposal from Bitwise. Other evidence corroborates that Bitwise has an active filing for a Solana ETF.
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Summary

The SEC pushed back its decision on various Solana ETF proposals, including those from Bitwise, 21Shares, Canary Funds, and Marinade Finance, extending the deadline to October 16. The orders, issued under delegated authority, cite the need for additional time to review proposed rule changes. Additionally, Cboe BZX has filed for an Invesco Galaxy Solana ETF, while market volatility, including a significant drop in Solana meme coins, suggests heightened regulatory caution.

Terms & Concepts
  • Solana: A high-performance blockchain known for its fast transaction speeds and support for decentralized applications, widely used for issuing digital assets and tokens.