The U.S. Securities and Exchange Commission (SEC) has now acknowledged Fidelity's Solana exchange-traded fund (ETF) filing. 

The bullish development has had little immediate impact on the price of the popular altcoin. According to CoinGecko data, the price of SOL is down by more than 12% over the past 24 hours amid an all-out market sell-off.   

As reported by U.Today, Fidelity, which boasts roughly $4.9 trillion worth of assets under management, jumped into the Solana ETF race in late March. 

In February, the SEC also acknowledged several Solana ETF filings from such issuers as Grayscale, 21Shares, and Canary Capital. 

Polymarket bettors see an 83% chance of a Solana ETF being approved this year.