Grayscale, a prominent cryptocurrency asset manager, has formally submitted a request to the U.S. Securities and Exchange Commission (SEC) to launch a Solana exchange-traded fund (ETF). This follows Fidelity’s entry into the race in March as reported by U.Today. The SEC acknowledged Grayscale’s filing in March, indicating the potential approval process is underway. The price of Solana has dipped slightly (-0.4%) over the past 24 hours. Several other ETF proposals, like those from VanEck, are also pending. According to Polymarket predictions, a Solana ETF has high odds of approval by 2025. Solana’s journey toward an ETF is part of a larger trend. Other notable altcoins such as XRP and Dogecoin (DOGE) are also likely to see their own ETFs this year. Grayscale recently filed for a diverse cryptocurrency ETF encompassing SOL and XRP, further illustrating the growing movement towards regulated crypto products in the U.S. Read the full article on UToday.