Fidelity’s Solana ETF Filing Acknowledged by SEC, But Price Remains Under Pressure
The U.S. Securities and Exchange Commission (SEC) has officially taken note of Fidelity’s filing for a Solana exchange-traded fund (ETF), marking a notable step forward for the investment giant.
Despite the positive regulatory development, Solana’s price has shown little response, continuing its downward trend as the broader crypto market faces intense selling pressure.
Fidelity, a major asset manager overseeing approximately $4.9 trillion, entered the race to launch a Solana ETF in late March.
The move comes as competition heats up, with several other firms, including Grayscale, 21Shares, and Canary Capital, having their own Solana ETF filings acknowledged by the SEC earlier this year.
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Market sentiment remains cautiously optimistic despite the current price dip.
On prediction platform Polymarket, bettors are giving Solana an 83% chance of securing ETF approval before the year ends, reflecting continued confidence in the asset’s potential amid ongoing regulatory scrutiny.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is passionate about questions of meaning. He is a fluent German speaker as well as He has been in the crypto space for more than three years and has an eye for spotting emerging trends in the world of digital currencies. Whether providing in-depth analysis or reporting on all topics on a daily basis, his deep understanding and enthusiasm for what he does makes him a valuable addition to the team.
