Fidelity Spot Solana ETF makes progress after SEC approval of its filing
Fidelity Investments has received approval from the U.S. Securities and Exchange Commission (SEC) for its immediate request for a Solana exchange-traded fund (SOL).
The launch of the exchange-traded product (ETP) could lead to a rise in Solana shares.
Over the past twenty-four hours, the major economic sector has witnessed some interesting movements. The United States has returned to the forefront with Trump's announcement of additional tariffs on all international trade transactions. Furthermore, these tariffs exacerbate the rising tensions between the two countries.
Meanwhile, the cryptocurrency sector has seen numerous announcements. Alongside the progress made on the Stable Financial Act (STABLE Act) yesterday, spot exchange-traded funds have also experienced new regulatory developments.
It is worth noting that the U.S. Securities and Exchange Commission (SEC) approved the request from Fidelity Investments, a prominent issuer of exchange-traded funds (ETFs), related to the Solana exchange-traded fund. In a recent document, the U.S. regulatory body approved the exchange-traded fund product and moved it towards approval.