On November 18, 2025, investment firm Fidelity Investments began trading shares of its Solana ETF under the ticker FSOL on the NYSE Arca exchange. The launch of FSOL comes amid growing interest in cryptocurrency exchange-traded funds in the US.
This is reported by Finway
A New Wave of Solana ETFs
In addition to Fidelity’s product, spot Solana ETFs from VanEck and Canary Capital also entered the market simultaneously. This marks the fifth such fund in the US, allowing investors to engage with Solana through traditional exchange instruments. Alternative offerings include funds from Bitwise, Grayscale Investments, VanEck, as well as SOLC from Canary Capital, which also launched on November 18.
Notably, a product from REX Shares and Osprey Funds stands out, as it is registered as a C Corporation rather than an investment contract.
Features of FSOL and Market Reaction
Prior to the trading launch, Fidelity submitted Form 8-A to the US Securities and Exchange Commission (SEC), which, in accordance with new listing requirements for cryptocurrency funds, allowed it to avoid delays in the registration process. The structure of FSOL includes staking Solana through trusted intermediaries, and until May 2026, investors are exempt from placement and management fees.
“This is undoubtedly the largest asset manager in this category, considering that BlackRock is not yet involved. The game has begun.”
Experts note that Fidelity Investments, due to its status as one of the largest global asset managers with $6.4 trillion under management, is capable of quickly taking a leading position among new Solana ETFs. This was highlighted by Bloomberg Intelligence analyst Eric Balchunas. NovaDius Wealth Management CEO Nate Geraci also expressed surprise at the lack of similar initiatives from BlackRock.
The sector of spot crypto funds on Solana is demonstrating a steady influx of investments: during the first 10 days of November 2025, the amount invested in these instruments exceeded $342 million. Overall, the market continues to record capital growth for 15 consecutive days, indicating increased investor confidence in new financial products based on Solana.