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.
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.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/fidelitys-solana-etf-filing-acknowledged-by-sec-but-price-remains-under-pressure/