Solana stayed strong around $191.45 as big news hit the market.
One of the biggest headlines came from Fidelity Investments, one of the largest asset managers in the world. Fidelity just added Solana trading to its crypto lineup for both institutional and retail investors.
That’s a big deal.
Until now, Fidelity only supported Bitcoin, Ethereum, and Litecoin. Adding Solana shows that traditional finance is starting to see real value in the project.
Solmate Infrastructure Stock Soars 50%
In another major move, Solmate Infrastructure, a company holding large amounts of SOL, saw its shares jump 46% after announcing an aggressive plan to acquire more Solana-based projects.
The company also revealed that it’s setting up a validator data center in the United Arab Emirates, showing that the Solana ecosystem continues to expand across global markets.
Hong Kong Approves First Solana ETF
And the bullish news doesn’t stop there.
Just two days earlier, on Wednesday, October 22, Hong Kong approved its first-ever Solana ETF — managed by ChinaAMC.
This will be the first crypto ETF in the region outside of Bitcoin and Ethereum. It’s designed to track Solana’s price and will officially launch next Monday.
That approval signals growing regulatory confidence in Solana as a legitimate, investable digital asset.
Price Action: Still Cautious but Solid
Despite all this excitement, Solana’s price hasn’t exploded yet. It’s still hovering near $190, mainly due to technical resistance and a sluggish broader crypto market.
SOL is currently trading below its 200-day Exponential Moving Average (EMA) — a level that’s acted like a ceiling, rejecting several attempts to break higher.
But given the strong institutional backing, new ETFs, and growing developer ecosystem, analysts believe it’s only a matter of time before Solana makes another big move.
Bottom Line
Solana is quickly becoming one of the hottest names in crypto again.
With Fidelity opening its doors to SOL, a Hong Kong ETF on the way, and major infrastructure players doubling down, institutional momentum is clear.
For now, the price may be holding steady — but the foundation being built underneath could set the stage for Solana’s next breakout.
