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Fidelity's Solana ETF Launch Imminent
20 Nov
Summary
- Fidelity prepares to launch its spot Solana ETF, following VanEck's earlier fund.
- VanEck's ETF offers zero fees until February 2026, then a 0.30% sponsor fee.
- BlackRock has not yet filed applications for a Solana ETF or any other altcoin ETF.
Fidelity is poised to launch its spot Solana Exchange Traded Fund (ETF) on November 18, marking its entry into the growing altcoin ETF market. This move positions Fidelity as the fourth asset manager to introduce a Solana ETF, with VanEck having recently rolled out its own fund on November 17.
VanEck's Solana ETF, trading on the CBOE, currently offers zero fees, a promotion set to last until February 2026. Following this period, a 0.30% sponsor fee will apply. Competitors like Bitwise and Grayscale have also launched Solana ETFs, with Bitwise's BSOL already achieving $450 million in trading volume since its October 28 debut.
Notably, BlackRock has refrained from filing applications for a Solana ETF or any other altcoin ETF. This absence presents a significant opportunity for firms like Fidelity, which analyst Eric Balchunas suggests has a strong chance to dominate this ETF category. Canary Capital is also slated to launch its SOLC ETF on November 19 in collaboration with Marinade Finance.
