Fidelity to Introduce FSOL Spot Solana ETF on Tuesday

Fidelity will roll out its spot Solana exchange-traded fund on Tuesday, adding one of the world’s largest asset managers to the growing group of firms offering Solana-based investment products. The fund, listed under the ticker FSOL, gives investors direct access to Solana without using a brokerage on a crypto exchange.

The launch comes while Solana trades near $137, about 27% lower than a month ago. According to Bitget chief analyst Ryan Lee, Solana could return to the $156–$160 range by late November if trading volumes recover across the network’s DeFi platforms, consumer-focused apps, and the ongoing activity in memecoins.

Fidelity’s entry adds another large firm to the list of issuers expanding their Solana offerings in 2025. The company manages roughly $7 trillion, placing it among the few global firms capable of moving significant capital into new ETF products.

The rollout follows the reopening of U.S. regulatory agencies after a 43-day government shutdown, which paused ETF approvals and other market actions. With the backlog now moving again, issuers that had been on hold have resumed their filings.

Another Solana-related ETF is also set to launch this week. Canary Capital plans to introduce its SOLC fund developed with Marinade Finance, including staking features from the outset. Canary recently gained attention when its XRP ETF drew nearly $250 million on its first trading day, the largest first-day inflow for any ETF this year.

Commenting on the growing number of Solana funds, StealthEx CEO Maria Carola said the new products place Solana in front of professional investors who previously focused mainly on Bitcoin and Ethereum.

One notable absence from the current round of filings is BlackRock. The firm, which oversees $12.5 trillion, dominates the U.S. Bitcoin and Ethereum ETF categories but has not yet shown interest in a Solana product. That leaves room for Fidelity, Bitwise, VanEck, and Grayscale to compete for early inflows.

Recent launches have produced mixed outcomes.

• Grayscale’s GSOL, converted from a trust to an ETF in October, brought in about $4 million on its first day.

• Bitwise’s BSOL performed better, gathering $129 million at launch.

At the time of writing, Solana remains far below the January 2025 high, reached during a surge in memecoin trading. Whether the new ETFs can close that gap will depend on trading activity in the coming weeks and the amount of capital that follows Fidelity and other issuers into these products.

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