$SOL In the past 45 days, the crypto market has experienced a series of extremely positive events at the macro policy level.

**Federal Reserve Policy Shift**
On December 1st, the Federal Reserve officially ended QT (quantitative tightening) and shifted to a principal rollover and reinvestment mode. This means the liquidity environment has shifted from contraction to easing, which is a major positive for the entire risk asset market.
**SEC Opens New Doors for Innovative Projects**
Following that, on December 2nd, SEC Chair publicly announced that the "Innovation Exemption" framework plan will be launched in January 2026. This is undoubtedly a huge policy window for projects looking to explore new assets and mechanisms.
**Spot ETF Applications Keep Coming**
Spot ETF applications related to Solana are also progressing, with major institutions like Morgan Stanley participating. This institutional-level involvement indicates that market recognition of crypto assets is continuously increasing.
In just over a month, from macro liquidity improvements to regulatory framework optimization and institutional product innovation, almost every development points in the same direction—the policy environment and institutional recognition of the crypto market are rapidly heating up.