Among the various cryptocurrency assets awaiting regulatory approval for an ETF (#ETF ) is Solana ($SOL ). According to PolyMarket data, the likelihood of the Securities and Exchange Commission (#SEC ) approving the Solana ETF has risen to 76%.

The noise around the ETF #سولانا has increased with the rising chances of approval

Notably, in an update shared by SolanaFloor on platform X, PolyMarket predicted that the regulatory body has a 76% chance of approving several S-1 applications submitted to it by July 31. The increasing odds of approval indicate growing confidence among investors in this space.

In the past 24 hours, confidence in approval has risen by 13%, from 63% to 76%. This development indicates that market sentiment is positive, suggesting that the Solana ETF could be approved soon.

🚨Update: The chances of approval for the @Solana ETF increased from 63% to 76% in the past 24 hours, according to @Polymarket. pic.twitter.com/45WKLADy6P

— SolanaFloor (@SolanaFloor) June 17, 2025

It is essential to clarify that PolyMarket's predictions do not guarantee outcomes; they reflect the ecosystem's expectations for this pending ETF application.

More than five asset managers, including Fidelity Investments, Franklin Templeton, 21Shares, Canary Capital, and Bitwise, have submitted their S-1 applications to the Securities and Exchange Commission. However, the regulatory body has not responded to them.

Interestingly, Solana and $XRP are among the leading pending applications for ETF products before the Securities and Exchange Commission.

Will the price of $SOL react to the ETF catalyst?

Meanwhile, in February 2025, the Securities and Exchange Commission approved the SOL ETF application submitted by Canary Capital. The approval came just days after the regulatory body confirmed the receipt of the application submitted by Grayscale Investment.

Despite ongoing delays from the Securities and Exchange Commission, Nate Geraci, head of the ETF store, predicted in December 2024 that Solana has a good chance of approval in 2025. Geraci believes the stakes are high for several cryptocurrency-related ETFs, and Solana could be one of those approved.

Although approval does not mean endorsement, it remains significant as it indicates that the Securities and Exchange Commission may soon begin reviewing the applications submitted to it.

Despite PolyMarket's predictions, Solana's price has not reacted positively. It is currently trading at $149.86, representing a 4.43% decrease in the past 24 hours.