• Solana ETF approval odds rose to 85% on Polymarket, signaling strong institutional and investor confidence.
• SOL price hovered near key support at $197 as traders await SEC decisions on pending ETF applications.

The possibility of a Solana[SOL] ETF approval in 2025 has ignited market excitement, with Polymarket odds soaring to 85%.

The shift reflects increasing confidence in regulatory advancements and growing institutional interest in Solana as a legitimate investment vehicle.

With multiple asset management firms filing for a spot Solana ETF, the question remains: Will the SEC give the green light?

Market sentiment and institutional interest

The surge in Polymarket odds for a Solana ETF approval highlights a drastic shift in sentiment. Just months ago, the likelihood was pegged at a mere 3%.

The transformation stems from heightened institutional interest, as leading firms such as Grayscale, VanEck, 21Shares, Bitwise, and Canary Capital have submitted applications for a spot Solana ETF.

These applications are under SEC review, with critical deadlines approaching early 2025. Additionally, regulatory shifts following the resignation of SEC Chair Gary Gensler on the 20th of January 2025, may influence the approval process.

The appointment of a more crypto-friendly regulator could pave the way for a Solana ETF, much like the recent approval of spot Bitcoin[BTC] and Ethereum[ETH] ETFs.

Price begs to differ from the Solana ETF odds

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Author: Adewale Olarinde

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