The SEC has acknowledged Fidelity's application for a spot Solana ETF, starting the official review process.Fidelity joins several major asset managers competing to launch a Solana-based ETF.The filing submitted through Cboe BZX Exchange seeks to propose a new rule that will permit the Fidelity Solana ETF to list and trade.Polymarket places the chances of a Solana ETF being approved by 2025 at 89%, up from 77 % at the beginning of the year.