Fidelity and Canary Launch New Solana ETFs as SOL Price Faces Volatility

The crypto market is set for a major shift as two new spot Solana ETFs begin trading today, expanding investor options even as SOL’s price faces sharp swings. Bloomberg ETF analysts confirmed that the Fidelity Solana ETF (FSOL) and the Canary Marinade Solana ETF (SOLC) will officially launch on Tuesday, bringing the total number of spot Solana ETFs in the U.S. market to five.

Fidelity’s FSOL becomes effective following an 8-A filing and will trade on NYSE Arca under the ticker FSOL. With a management fee of 0.25%, Fidelity enters the Solana ETF arena as one of the most influential asset managers to back SOL directly. Bloomberg’s Eric Balchunas highlighted that Fidelity is the largest asset manager participating in Solana ETFs so far, noting that BlackRock continues to limit its ETF lineup to Bitcoin and Ethereum. Bitwise’s BSOL has already surpassed $450 million in assets under management, signaling strong institutional interest.

Canary Capital, in collaboration with Marinade Finance, is also debuting the Canary Marinade Solana ETF (SOLC) on Nasdaq. The fund, which integrates Marinade as its staking partner, will carry a management fee of 0.50%. Bloomberg analyst James Seyffart confirmed the launch, emphasizing growing competition as new Solana ETFs enter the market.

Despite consistent inflows—nearly $400 million across all Solana ETFs—SOL’s price has been under pressure. The token dropped more than 20% over the past week and fell 9% today, currently trading around $134.35. Still, Solana rebounded more than 3% from its daily low, supported by a 60% surge in trading volume. Derivatives data from CoinGlass shows rising bullish sentiment, with total futures open interest climbing to $7.43 billion.

As institutional participation increases with these ETF launches, market watchers anticipate renewed momentum for Solana despite short-term volatility.