Fidelity Investments Proposes Solana ETF Filing with SEC
Fidelity Investments is pursuing the creation of an exchange-traded fund (ETF) to track the price of Solana (SOL), as indicated by a recent filing with the Securities and Exchange Commission.
- Cboe Exchange submitted a 19b-4 filing for the proposed Solana ETF.
- Fidelity registered a Fidelity Solana Fund in Delaware last week.
- The firm has not yet filed the required S-1 document for the ETF.
- Solana, valued at $74 billion, ranks as the sixth-largest cryptocurrency by market cap.
- Other asset managers like Grayscale and Franklin Templeton have also applied to launch funds holding SOL.
- Two ETFs tracking SOL futures were recently launched on Nasdaq.
- Fidelity previously launched two spot crypto ETFs: FBTC and FETH, attracting significant assets.
- Fidelity's clients show strong interest in cryptocurrencies and many already own them.