Community Solana (SOL) is eagerly awaiting the U.S. regulator’s decision on its exchange-traded fund applications (ETF).
Investor Ted Pillows reminded that the US SEC has until October 16 to make a decision on these applications.
Several asset managers have filed with the US Securities and Exchange Commission (SEC), including Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale and VanEck.
If the SEC gives the green light, it will ensure Solana institutional adoption and will contribute to increased popularity. Approval could also positively impact the altcoin’s price.
Over the last seven days the cost Solana fell by 16,5%, however, over the course of the day, the cryptocurrency managed to add 2,5% to its value, which ensured growth to the level of $198.
Meanwhile, investors are actively trading Solana, whose trading volume increased by 26,36% to $11,97 billion. Perhaps they are counting on a price increase in the event of SEC approval.
Some analysts predict that a positive regulatory decision could push the price to $345–$520. Some even hope for a rise to $1000.