The celebrity token on Solana (SOL) has plunged significantly, causing investors to suffer huge losses.

Robinhood has officially expanded its crypto offerings by adding support for Solana (SOL) to its wallet. This exciting integration allows users to self-custody their SOL and conduct transactions directly on the solana blockchain.

Given SOL's current market value and circulation, it would be difficult for these institutions to make money.

Although the SOL price has not exceeded $145 since July 3 and has performed poorly, the TVL is on par with BNB Chain, and network activity and DApps transaction volume have grown. The demand balance in the futures market provides the possibility for the SOL price to rise back to $160.

The filing is the first Solana ETF to be filed in the U.S. Six days later, a similar product was filed in Canada.

Currently, the only other spot Crypto ETFs pending approval are VanEck and 21Shares’ spot Solana (SOL) ETFs.

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Cryptocurrency market maker GSR Markets said a U.S. spot Solana exchange-traded fund could boost SOL’s price ninefold.