SEC Pushes Back Franklin Templeton Solana ETF Decision Again: What it Means For $SNORT

The U.S. Securities and Exchange Commission (SEC) has once more postponed deciding on Franklin Templeton’s proposed spot Solana ETF, extending the review period by another 60 days.

The new deadline is set for November 14, 2025. The move underscores both the growing interest in Solana-based investment products and the scrutiny regulators are applying to them; the slowly-forming crypto regulatory framework in the US won’t be an entirely easy pass.

Franklin Templeton’s ETF Proposal

Franklin Templeton’s proposal centers on a spot Solana ETF, intended to allow investors direct exposure to SOL through a regulated fund. The listing would be under the CBOE BZX Exchange’s commodity-based trust shares rule.

That’s a particular legal framework that the SEC must find satisfactory in terms of transparency, market integrity, and trading protocols.

The Solana ETF hasn’t had an entirely smooth course so far:

• The CBOE BZX exchange filed the request to list and trade the Franklin Templeton Solana ETF on March 12, 2025; it was published in the Federal Register on March 19.
• The SEC delayed its decision in late April and again in mid-June, citing the need for more time to assess whether listing and trading requirements were sufficiently met.
• The most recent extension grants the SEC until November 14 to approve or deny the application.
• Another Solana ETF application (from Grayscale) has a decision deadline of October 10, 2025.

Market Impact & Investor Response

The announcement of the delay sparked surprising optimism in the markets. Solana jumped more than 4% in the past 24 hours, trading around $222.75, amidst speculation of a rally toward $250.

In addition, derivatives markets show strong interest: open interest in $SOL futures across platforms like Binance and CME rose by 8-11%, while overall futures open interest exceeded $15.5B.

Despite the positive momentum, there are factors tempering investor enthusiasm:

• The SEC is looking closely at whether the ETF meets listing and trading standards under regulatory rules, which still leaves room for objections or further delays.
• Trading volume has slipped slightly in recent hours, suggesting some investors may be waiting for more definitive signals.
• External macroeconomic conditions, such as pending US inflation (CPI) data, may also influence both market sentiment and regulatory urgency.

Solana’s steady growth this year and surprising strength also boosts related projects like Snorter Token ($SNORT), one of the best ways to trade hidden gems of Solana meme coins.

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Currently, investors expect the SEC to approve the new Solana ETF before the new November 14 deadline. That could – and should – send both $SOL and HYPER even higher.

Authored by Bodan Patru, Bitcoinist – https://bitcoinist.com/sec-pushes-back-solana-etf-decision-what-it-means-for-snort