Fidelity Lists Solana as Hong Kong Approves SOL ETF
Fidelity has added Solana trading to its US brokerage platform, enabling direct SOL purchases alongside Bitcoin and Ethereum. The asset manager oversees $5.8 trillion and holds over 205,888 BTC in its Bitcoin fund. Simultaneously, Hong Kong’s Securities and Futures Commission approved ChinaAMC’s Solana spot ETF, set to launch on October 27, giving institutional investors regulated SOL exposure. SOL price surged 6% intraday, rising from $180 to $192 and making Solana the top performer among major cryptocurrencies. On-chain metrics show over 1,500 transactions per second and $4 billion in total value locked. With US SOL ETF approval odds near 99% and year-to-date market cap up 25% to $88 billion, traders should monitor ETF developments, liquidity shifts, and the $200 resistance level.
Bullish
The dual announcements—Fidelity integrating Solana trading and Hong Kong approving a SOL spot ETF—represent strong institutional adoption catalysts. Short term, the ETF launch and expanded trading access boost liquidity and trading volume, fueling price momentum and potential breakouts above $200. Long term, regulated exposure via ETFs and on-chain growth metrics underpin network credibility and investor confidence. These combined factors support a bullish outlook for SOL.