- Fidelity Investments files for the Fidelity Solana Fund, signaling potential entry into Solana-based ETFs and expanding its crypto investment offerings
- The filing leverages Delaware’s trust-friendly legal framework, paving the way for institutional and retail investors to access Solana through a regulated investment vehicle
- Fidelity’s involvement could boost Solana’s credibility, adoption, and liquidity, inspiring other asset managers to explore Solana-based products and strengthening its position in the crypto market
Fidelity Investments, one of the largest investment management firms in the world, has taken a step forward toward the materialization of a Solana-based ETF. According to a report from Fox Business journalist Eleanor Terrett, Fidelity submitted a file to the CSC Delaware Trust Company, requesting the statutory trust of “Fidelity Solana Fund”.
If approved, this move could mark Fidelity’s entry into offering Solana ($SOL) as a regulated investment product, joining its existing lineup of Bitcoin and Ethereum spot exchange-traded products (ETPs).
The filing is considered the initial step towards the creation of a Solana ETF, providing institutional and retail investors with access to the Solana digital asset.
Fidelity ETFs
Fidelity is one of the most influential and most important fund managers in the world. Today, the firm manages a whopping $5 trillion in assets.
Its Bitcoin exchange-traded fund is today the second-largest BTC ETF in the market. Managing over $16 billion in Bitcoin, the Fidelity Wise Origin Bitcoin Fund (FBTC) is only behind Blackrock’s iShares Bitcoin Trust (IBIT) which manages over $23 billion in BTC.
Since launching its first crypto ETF, Fidelity has been making moves toward expanding its presence in the crypto space. The fact that the fund manager is keen on launching a Solana ETF marks yet another step in its strategy to diversify crypto offerings and solidify its position as a leader in blockchain-based investment products.
Impact for Solana
A potential Fidelity Solana Fund can be seen as a major win for the cryptocurrency project. As already one of the most popular assets and blockchains in the world, the potential SOL product would likely enhance institutional confidence in Solana and broaden its appeal among traditional investors.
