Biggest week for Solana prices, will SEC approve SOL ETF?

of Solana (SOL) The community is buzzing with excitement in anticipation of a decision from US regulators. Barring any last-minute changes, the Securities and Exchange Commission (SEC) is expected to issue rulings on several Spot Solana exchange-traded fund (ETF) applications by then.

Major asset managers await SEC verdict on Solana ETF

Renowned investor Ted Pillows highlighted The SEC has until Thursday, October 16th to decide on the application. With the deadline looming, many are hoping for regulatory nod, and the community continues to buzz.

Some asset management companies SEC filingThese include Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale, and VanEck. Remarkably, at the end of August, approximately seven asset management companies updated their notifications to the Commission.

The move suggests there was communication between asset managers and regulators. Many see this as a positive development and believe it will increase the chances of approval. Updates indicate progress and possible adjustments to be made to suit your requirements.

If the SEC gives him the green light, Solana could gain institutional exposure and increase his recruitment. Such developments can have a positive impact on assets and lead to an increase in prices.

Solana has suffered a 17.12% loss in value over the past seven days, a situation made worse by widespread crypto market liquidations. However, as the ETF approval deadline approaches, altcoins are showing signs of recovery.

Markets react optimistically ahead of decision

At the time of writing, Solana's price is change This represents an increase of 6.25% in the past 24 hours. An attempt to toss $200 was rejected, and the coin soared to $199.67. This move suggests further upside potential, especially on the back of bullish expectations.

Meanwhile, investors are actively trading Solana ahead of possible approval, with trading volume increasing 26.36% to $11.97 billion. These investors may be hoping prices will rise if the SEC agrees.

According to some analysts' predictions, regulatory approval will Prices range from $345 to $520. One online user, Kekov, predicts that SOL could soar to $1,000.

Despite these expectations and wishes, October 16th remains a very important day for Solana. If the SEC does not delay approval, this could be a notable day in blockchain history. Community members have already started counting down to that day.