The U.S. Securities and Exchange Commission (SEC) has formally acknowledged the filing for Fidelity’s spot Solana (SOL) Exchange-Traded Fund (ETF).
This marks a key development in the financial industry, as Fidelity seeks to list its Solana ETF on the Cboe BZX Exchange. The acknowledgment comes after Fidelity submitted a proposed rule change, paving the way for the potential approval of the product.
Fidelity’s Spot Solana ETF Proposal
The SEC’s acknowledgment follows Fidelity’s filing to list and trade shares of the Fidelity Solana Fund under the Cboe BZX Exchange. The proposed rule change, initially submitted on March 25, was later amended on April 1, 2025, to clarify certain points and add additional details.
The amended proposal aims to list the Solana ETF under BZX Rule, which pertains to commodity-based trust shares. According to the Cboe BZX Exchange, Fidelity plans to register the shares with the SEC through a registration statement on Form S-1.
Fidelity’s experience with crypto ETFs, having launched the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH), has prepared it for this new initiative. FBTC has drawn substantial interest, accumulating nearly $17 billion in assets, while FETH currently manages around $975 million.
This Is A Developing News, Please Check Back For More
The crypto market is witnessing a powerful breakout as Bitcoin crosses the $97,000 mark, fueling a broad-based rally across digital assets. In the past 24 hours, the global crypto market cap surged by 1.64% to $2.98 trillion, driven primarily by bullish momentum in Bitcoin and Ethereum.
Bitcoin exploded by over $3,500 within hours to hit $97,469, triggering $55 million in short liquidations. The surge was backed by $24.27 billion in trading volume, with Bitcoin now commanding 64% of the total market dominance. Its Relative Strength Index (RSI) remains at a healthy 66, indicating strong buyer interest without entering overbought territory.
Why Crypto is Surging?
One major catalyst is the renewed optimism over global trade. The U.S. government announced it is restarting trade negotiations with 18 countries—excluding China. Treasury Secretary Scott Bessent confirmed the move, which markets interpreted as a step toward easing economic tensions. The update sparked a short-lived risk rally, contributing to Bitcoin’s squeeze higher.
This tariff news indicates a potential shift in U.S. trade policy under Donald Trump’s influence, as he continues pushing for lower interest rates and friendlier economic terms.
Government Adoption Boosts Sentiment
Institutional interest hit a new high as New Hampshire became the first U.S. state to approve crypto investments for its treasury. Governor Kelly Ayotte signed a bill allowing the state to allocate funds to top-tier digital assets like Bitcoin, marking a new era of state-level crypto adoption.
Adding to the bullish tone, Binance founder CZ predicted Bitcoin could hit $500K to $1M this cycle. He cited growing ETF flows, government accumulation, and sovereign adoption by countries like El Salvador and Bhutan as reasons for the upside potential.
While Bitcoin leads the charge, altcoins are tagging along:
Ethereum rose 1.02% to $1,824
Solana added 0.90% to $145.67
BNB gained 0.58% to reach $602.30
XRP stood out with a 1.44% daily jump and 4.46% weekly rise
Smaller-cap tokens like LAYER and ALPACA saw explosive 30% gains, while meme coins such as GORK and Fartcoin posted eye-catching spikes on decentralized platforms.
Market Outlook: Will the Rally Hold?
Total crypto trading volume surged 27.35% to $81.48 billion, indicating renewed market participation despite macro uncertainty. All eyes are now on the upcoming Federal Reserve rate decision, with a 97% probability of no change according to the CME FedWatch Tool.While altseason remains muted—measured by an index score of just 24/100—Bitcoin’s rally toward the $100K psychological mark could be the ignition point.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
The post Why Is Crypto Up Today? Bitcoin Breaks $97K Amid U.S. Tariff Shift appeared first on Coinpedia Fintech News
The crypto market is witnessing a powerful breakout as Bitcoin crosses the $97,000 mark, fueling a broad-based rally across digital assets. In the past 24 hours, the global crypto market cap surged by 1.64% to $2.98 trillion, driven primarily by bullish momentum in Bitcoin and Ethereum. Bitcoin exploded by over $3,500 within hours to hit …
Made in USA coins like Solana (SOL), SUI, and Aerodrome Finance (AERO) are showing very different signals heading into the last week of April.
SOL is bouncing back with strong DEX volume, SUI is gaining ecosystem momentum despite price weakness, and AERO is under pressure as Base experiments with a new “Content Coins” narrative. From recovery rallies to ecosystem expansion and narrative shifts, each offers a unique setup to watch this week.
Solana (SOL)
Over the past seven days, Solana has climbed 6%, reclaiming the $130 level and reigniting bullish sentiment after correcting by 53% between February 7 and April 7.
If this positive momentum holds, SOL could challenge resistance at $147. A decisive break above that level may lead to further gains toward $160 and potentially $180.
However, if the rally stalls, support at $124 becomes critical. A drop below that could push prices down to $112, risking the recent recovery.
SUI
The SUI ecosystem has gained notable traction over the past few days, driven by a surge in meme coin activity and a spike in decentralized exchange (DEX) usage.
SUI reached $2.14 billion in DEX volume, placing it 6th among all chains and even surpassing Arbitrum’s daily volumes on several occasions.
Despite the ecosystem buzz, however, SUI’s price has struggled to keep up with the momentum.
Over the last seven days, SUI has dropped more than 9%, showing signs of a deeper correction. If the downtrend continues, it could test the key support at $2.02, with further downside toward $1.71 if that level breaks.
On the flip side, a bullish reversal could send SUI toward resistance at $2.28. A breakout there opens the door to $2.41, $2.54, and potentially $2.83 if the rally gains strength.
Aerodrome Finance (AERO)
Aerodrome, the leading decentralized exchange focused on the Base chain, has generated $6.38 million in fees over the past 30 days, solidifying its position as the backbone of Base’s DeFi activity.
Despite its dominance, AERO has been under pressure, falling over 10% in the last seven days and more than 20% in the last month.
At the same time, Base is pushing a new narrative centered around “Content Coins,” though some users argue they resemble meme coins more than a distinct innovation.
Base’s DEX volume has dropped 21% in the past week, but if the “Content Coins” trend gains traction, it could reignite interest in the ecosystem—and in AERO.
Should momentum return, AERO could climb to test resistance at $0.414, with potential upside toward $0.47 and $0.54 if the rally is strong.
On the downside, if bearish pressure continues, support at $0.36 is key. A breakdown there could lead to further losses toward $0.34 and possibly $0.28, making the coming weeks critical for AERO’s direction.
Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, has recently submitted a letter to the U.S. Securities and Exchange Commission (SEC) demanding clarity and differentiation between crypto tokens and investment contracts. While addressing SEC’s Crypto Task Force, headed by Commissioner Hester Peirce, Alderoty argued that most fungible crypto assets won’t qualify as securities under the existing laws. Ripple CLO Demands Crypto Regulatory Clarity In his SEC letter, Alderoty cited the ‘The Ineluctable Modality of Securities Law’ paper by Lewis Cohen, stating that an investment contract requires a legal relationship between a buyer and a seller. However, this is not necessary in the secondary market transactions of the crypto market, he said. In the ongoing SEC vs Ripple lawsuit, the Ripple CLO also pointed out the ruling by Judge Torres where XRP was deemed not a security in secondary sales, although the earlier institutional sales met the criteria for investment contracts. While… Read More at Coingape.com
