Solana (SOL) has once again attracted the attention of institutional investors. Seven prominent asset management companies, including Franklin Templeton, Grayscale, VanEck, and Fidelity, have recently submitted updated Spot Solana ETF application documents to the SEC. These updates mainly involve supplementary explanations regarding stake rules and custody details.

It is worth noting that Grayscale has set an annual fee of 2.5%, while VanEck has included active staking rewards and dual custody in its plan. Industry insiders believe that these adjustments are made to better comply with SEC regulatory requirements. Market analysts predict that the SEC may make decisions on these applications between late August and September 2025.

In the short term, the announcement seems to have had a slight negative impact on the SOL price, possibly due to the market having already priced in this information, coupled with investors maintaining a cautious stance. The SOL price has dropped slightly by 3%, falling to $170.24. From a technical analysis perspective, SOL needs to stay above the support level of $158. If it can break through the resistance level of $180, it may reignite bullish sentiment in the market. However, if it breaches the support level, it could retrace to the levels of $145 or even $130.

In the long run, if the Solana ETF is approved, it will help SOL become a mainstream investment asset. With its staking scale reaching $60 billion and a mature ecosystem, Solana is likely to continue benefiting once the regulatory environment becomes clear.

On the other hand, Pi Network has also seen new developments recently. The project has integrated TransFi fiat access tools, a move that allows Pi Network to cover over 70 countries, supporting 40 currencies and 250 payment methods. This progress opens up new possibilities for the future development of Pi Network and enhances its potential for global usage.