Fidelity Eyes Solana ETF Amid Growing Crypto Investment Demand

Fidelity Investments has taken a major step toward launching a Solana (SOL) exchange-traded fund (ETF), according to a new filing with the U.S. Securities and Exchange Commission (SEC). Cboe Exchange submitted a 19b-4 form on behalf of Fidelity, seeking approval to list the Solana ETF. This follows the recent registration of the Fidelity Solana Fund in Delaware, signaling Fidelity’s growing interest in Solana, the sixth-largest cryptocurrency by market cap, currently valued at around $74 billion.

Although Fidelity hasn’t yet submitted the required S-1 filing — essential for any new ETF to be publicly traded — this move aligns with the firm’s broader push into digital assets. Fidelity has been active in the crypto space since 2014 and currently manages two spot crypto ETFs: the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH). FBTC has amassed nearly $17 billion in assets, while FETH holds about $975 million.

The Solana ETF proposal adds to mounting momentum around SOL-based investment products. Last week, Nasdaq welcomed two Solana futures ETFs — SOLZ and SOLT — marking a key development in paving the way for a potential spot ETF. Other major asset managers like Grayscale, VanEck, and Franklin Templeton have also filed to launch Solana funds, highlighting the growing institutional demand.

With strong interest from its client base, Fidelity’s continued expansion into crypto reflects a broader industry shift. As regulatory clarity increases and investor appetite for digital assets grows, a spot Solana ETF could be next in line to join the ranks of publicly traded crypto funds — further legitimizing Solana as a mainstream investment vehicle.