Fidelity Solana Fund statutory trust registered, hinting at potential ETF
Fidelity registers “Solana Fund”
Fidelity has taken a potential first step toward launching a Solana-based exchange-traded fund (ETF) with the registration of a new entity called the “Fidelity Solana Fund.”
According to a Thursday filing by CSC Delaware Trust Company, which often acts as a preparatory vehicle for ETF-related moves, the newly formed statutory trust could precede an official ETF application, reports The Block.
Fidelity has not confirmed its intentions beyond the filing. A company spokesperson acknowledged the registration but declined to comment on whether the trust is part of a broader plan to offer Solana-based investment products. If confirmed, the move would mark Fidelity’s expansion beyond Bitcoin, where it currently operates the second-largest U.S. spot Bitcoin-ETF, the Fidelity Wise Origin Bitcoin Fund (FBTC), which manages approximately $16.5 billion in assets, second only to BlackRock’s iShares Bitcoin Trust.
ETF market eyes Solana, but SEC remains cautious
Interest in Solana-ETFs has risen among major asset managers. Firms such as VanEck, Bitwise, 21Shares, and Canary Capital have all submitted Solana-ETF proposals — all of which have so far been rejected or ignored by the U.S. Securities and Exchange Commission. Bloomberg analyst James Seyffart noted the SEC has “essentially refused to acknowledge” recent filings for Solana ETFs.
Still, momentum is building. Franklin Templeton recently filed for a Solana-ETF that would incorporate staking rewards as income, and Volatility Shares is preparing to launch two Solana futures ETFs — the Volatility Shares Solana ETF (SOLZ) and a leveraged version (SOLT) — in the coming week.
BlackRock, which leads the Bitcoin-ETF market, has yet to indicate whether it intends to pursue Solana-based products, keeping its plans under wraps.
If Fidelity proceeds, it would become the most prominent issuer to enter the Solana ETF race — a move that could pressure regulators and rivals alike.
Also earlier Fidelity enters the tokenized asset market with a blockchain-based treasury fund.
