Solana ETF Approval Odds Skyrocket: Fidelity Leads Charge in Crypto Innovation

In a significant development for the cryptocurrency market, the U.S. Securities and Exchange Commission (SEC) has officially confirmed Fidelity’s filing application for a Solana (SOL) spot exchange-traded fund (ETF). This move marks a pivotal step forward in the integration of digital assets into traditional financial markets, as Optimism for approval surges to an all-time high.

SEC Confirms Fidelity’s Solana ETF Filing, Approval Odds Skyrocket to 89%

The U.S. SEC has officially confirmed Fidelity’s filing application for a Solana (SOL) spot exchange-traded fund. While this does not guarantee approval, it marks the beginning of the approval process. Optimism for a 2025 approval has grown, with Polymarket odds for SOL ETF approval surging to 89%. Major firms like Franklin Templeton have also joined the SOL ETF race, signaling traditional finance’s expanding interest in crypto. Fidelity Investments first registered the ’Fidelity SOL Fund’ as a statutory trust in Delaware in March, before updating the filing with more details.

Solana’s SOL Could See Nearly 6% Price Swing Ahead of U.S. Jobs Data

Solana’s SOL token is poised for a potential price swing of almost 6% after some large investors, or whales, dumped their holdings ahead of the U.S. non-farm payroll (NFP) report due later Friday. This estimate comes from Volmex’s one-day implied volatility index (IV) for SOL, which showed a one-day reading annualized at 109.70%, indicating an expected 24-hour price volatility of 5.74%. A movement of this size represents moderate volatility, especially considering that SOL has experienced several days of 6% or higher volatility since early March. The market is likely to remain volatile ahead of the U.S. jobs data.

Solana (SOL) Defies Trump’s $2 Trillion Wipeout

Solana’s SOL surges with bullish predictions, fueled by potential Fidelity ETF approval, showing resilience amid market volatility. The crypto market cap fell by 3.3%, dropping from $2.88 trillion to $2.78 trillion, after Donald Trump raised reciprocal tariffs on several nations. Despite this, SOL has shown signs of recovery.

GetBlock: Fastest Solana RPC Provider

Solana has emerged as a leading blockchain platform due to its unparalleled transaction speeds and innovative architecture. Its unique consensus mechanism and node structure enable high throughput while requiring substantial computational resources. Third-party providers like GetBlock offer optimized node access, balancing performance and cost for developers. Solana outperforms major blockchains like Ethereum and Bitcoin by orders of magnitude, with an average block time of 400 milliseconds and capacity for 65,000 transactions per second (TPS). This speed stems from three key innovations: Proof of History (PoH), Gulf Stream, and Turbine.