After its successful positioning of BTC and ETH ETFs, Fidelity has now applied for the spot Solana ETF with Cboe BZX exchange, joining the race to get the first Solana-based ETF approved amid improving regulatory policies for the crypto sector.
In one of its latest filing, Cboe exchange filed for the “Fidelity Solana Fund” with Fidelity now joining some leading names like Franklin Templeton, VanEck, and Grayscale, who all are awaiting for the SEC’s decision for their respective Solana ETF filings.
The filing from Fidelity comes just a week after Volatility Shares’ first Solana Futures ETF went live in the U.S. on March 20.
Following the news, the price of SOL has pumped over $146 in hours while it recovers from past two week’s massive declines. At the time of writing, SOL price is trading near $145 – up 17% in the past 7 days.
Since the U.S. President Donald Trump has been elected and took office in January, the broader crypto market has witnessed a huge wave of optimism after improved regulatory policies and favorable endorsements from the president himself.
With major institutional players like Fidelity stepping into the Solana ETF race, the competition is heating up and it is signaling growing confidence in SOL as a top-tier asset. The increasing number of applications for Solana-based ETFs suggests that asset managers view SOL as a promising investment option, following the success of Bitcoin and Ethereum ETFs.
If approved, spot Solana ETFs could open doors for institutional capital inflow, further strengthening Solana’s market position.
Solana has consistently proven its dominance in the blockchain space with its high-speed transactions, low fees, and increasing developer activity. An ETF approval could be a game-changer, driving broader adoption and price appreciation as more investors gain exposure to SOL through regulated financial products.
Also read: Securitize Brings BlackRock’s BUIDL Fund to Solana
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