Fidelity will launch its Solana exchange-traded fund on Tuesday, adding one of the world’s largest asset managers to the growing group of companies offering Solana-based investment products. The fund, which appears under the symbol FSOLgives investors direct access to Solana without using a brokerage on a crypto exchange.
The launch comes as Solana trades nearby $137about 27% less than a month ago. According to Bitget chief analyst Ryan Lee, Solana could return to the $156–$160 late November if trading volumes recover across the network’s DeFi platforms, consumer-focused applications, and continued activity in memecoins.
Fidelity’s entry adds another large company to the list of issuers that will expand their Solana offerings in 2025. The company manages approximately 7 billion dollarsplacing it among the few global companies capable of moving significant capital into new ETF products.
The launch follows the reopening of US regulatory agencies after a 43-day government shutdownwhich halted approvals of ETFs and other stock market. Now that the backlog is moving again, issuers who had been on hold have resumed their submissions.
Another Solana-related ETF will also launch this week. Canary Capital plans to present its SOLC Fund developed with Marinade Finance, including staking features from the start. The Canary Islands recently attracted attention when its XRP ETF almost drew $250 million on its first day of trading, the largest first-day entry for any ETF this year.
Commenting on the growing number of Solana funds, StealthEx CEO Maria Carola said the new products put Solana in front of professional investors who previously focused primarily on Bitcoin and Ethereum.
One notable absence from the current round of filings is BlackRock. The firm, which supervises 12.5 billion dollarsdominates the US Bitcoin and Ethereum ETF categories, but has yet to show interest in a Solana product. That leaves room for Fidelity, Bitwise, VanEck and Grayscale to compete for early entries.
Recent releases have produced mixed results.
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gray scale GSOLconverted from a trust to an ETF in October, generated approximately $4 million on his first day.
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bit by bit BSOL performed better, gathering $129 million at launch.
At the time of writing, Solana remains well below the January 2025 maximumreached during a surge in memecoin trading. Whether the new ETFs can close that gap will depend on trading activity in the coming weeks and how much capital follows Fidelity and other issuers into these products.
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