### Probability of Approval for the Solana ETF Rises to 76% 🚀
Exciting news for Solana fans! According to Polymarket data, the odds of the Securities and Exchange Commission approving the Solana ETF have significantly increased from 63% to 76% within just 24 hours, as of July 31. This growing confidence comes as five major asset management firms, including Fidelity and Franklin Templeton, await decisions on their S-1 applications.
Despite this optimistic outlook, the price of SOL has not responded positively so far. The coin is currently trading at $149.86, down 4.43% in the past 24 hours. Looking at recent price movements, SOL has been on a downward trend, falling from around $157 to $146 in the past day.
If approved, the Solana ETF would join Bitcoin and Ethereum ETFs in the regulated cryptocurrency investment space, potentially bringing new institutional capital into the ecosystem. While Polymarket's predictions are not guarantees, this increasing confidence suggests that the market is embracing the possibility of SOL being the next digital asset to receive the green light for an ETF! 📈
