The U.S. Securities and Exchange Commission (SEC) is set to make a decision on the spot Solana ETF application on October 10. This event has attracted widespread attention in the encryption currency market, as it could have a significant impact on the price movement of Solana (SOL).

Bloomberg analysts recently raised the probability of Solana ETF approval to 95%, a prediction that further boosts market optimism. If the Solana ETF is successfully approved, its impact may be similar to the successful case of the Bitcoin ETF, potentially significantly expanding institutional investors' participation in the encryption market.

However, the market is also closely watching for potential delay decisions. If the SEC chooses to postpone approval, this could put short-term pressure on many altcoins, including SOL. Investors can pay attention to the futures trading situation regulated by the Commodity Futures Trading Commission (CFTC) as a reference indicator for judging market direction.

Regardless of the outcome, this ETF approval will become an important milestone in the development of the encryption currency market. It concerns not only the future of SOL but also may pave the way for other encryption assets' ETF applications, further promoting the mainstreaming process of the encryption currency market.

As the approval date approaches, market participants should remain vigilant, closely monitor the developments of relevant news, and be prepared to respond to different outcomes. This decision will not only affect the price of SOL but may also have far-reaching impacts on the entire encryption ecosystem.