The competition to launch a Solana exchange-traded fund (ETF) gained fresh traction on June 14, when seven issuers—including the financial behemoth Fidelity—filed updated S-1 documents with the U.S. Securities and Exchange Commission. The new documents are fueling excitement that Solana might soon win the right to be packaged and sold as a spot ETF, just as Bitcoin has this year. Even with all the enthusiasm, Solana’s native token $SOL is exhibiting constraint. In the wake of the ETF developments, price action has stayed subdued. And perhaps divided is a generous way to describe the analysts’ perspective on Solana’s next move.
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