The U.S. Securities and Exchange Commission (SEC) has now acknowledged Fidelity's Solana exchange-traded fund (ETF) filing.
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The bullish development has had little immediate impact on the price of the popular altcoin. According to CoinGecko data, the price of SOL is down by more than 12% over the past 24 hours amid an all-out market sell-off.
As reported by U.Today, Fidelity, which boasts roughly $4.9 trillion worth of assets under management, jumped into the Solana ETF race in late March.
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In February, the SEC also acknowledged several Solana ETF filings from such issuers as Grayscale, 21Shares, and Canary Capital.
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Polymarket bettors see an 83% chance of a Solana ETF being approved this year.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team