Fidelity’s Solana ETF Filing Acknowledged by SEC as SOL Price Rises

The U.S. Securities and Exchange Commission (SEC) has officially acknowledged Fidelity’s application to launch a Solana exchange-traded fund (ETF), signaling progress in the race for institutional Solana exposure. Fidelity, which manages around $4.9 trillion in assets, filed for the ETF in late March, joining other financial giants aiming to introduce Solana-backed investment products.

Despite the regulatory milestone, Solana’s (SOL) price did not react immediately. However, as of now, the cryptocurrency is up 5.04% in the past 24 hours, trading at $118.71, according to CoinMarketCap.

This move adds momentum to Solana’s growing presence in traditional finance. Earlier in February, the SEC also acknowledged similar Solana ETF filings from Grayscale, 21Shares, and Canary Capital. The growing list of applicants reflects increasing confidence among asset managers in Solana’s long-term value and its potential to join the ranks of more widely traded crypto ETFs.

Investor sentiment surrounding a possible Solana ETF approval remains strong. According to Polymarket, a decentralized prediction platform, there is currently an 83% chance that a Solana ETF will be approved before the end of the year. This optimism is fueled by broader expectations of crypto ETF adoption following the successful launch of Bitcoin and Ethereum-based ETFs.

The acknowledgment of Fidelity’s filing is a key step in the SEC review process and may encourage further institutional interest in Solana. As one of the leading altcoins with a rapidly growing ecosystem, SOL continues to draw attention from both investors and financial institutions.

With major players entering the Solana ETF space, market watchers are closely monitoring regulatory developments that could open the door to new inflows and mainstream acceptance for Solana.