Fidelity and Canary Set to Launch Solana ETFs on November 19

Highlights:

• Fidelity and Canary will roll out their new Solana ETFs tomorrow.
• The Solana ETF market gains momentum as more competitors join the space.
• SOL price drops this week despite rising investor interest in Solana ETFs.

Fidelity Solana ETF (FSOL) and Canary Marinade Solana ETF (SOLC) will launch on November 19, Bloomberg ETF analysts confirm. Their debut will bring the total number of spot Solana ETFs to five. Interestingly, SOL’s price has declined despite substantial investor inflows into these ETFs.

JUST IN: 🇺🇸 Fidelity $SOL Staking ETF set to go live November 19th. pic.twitter.com/eatLXgwFkf

— Whale Insider (@WhaleInsider) November 18, 2025

Fidelity and Canary’s SOL ETFs Receive Regulatory Approval to Launch

The Fidelity’s FSOL has become effective following its 8-A filing and received approval from the NYSE Arca. The ETF will trade under the ticker FSOL, according to US Securities and Exchange Commission filings. The fund carries a 0.25% management fee and incorporates staking rewards in its benchmark methodology. 

Bloomberg senior ETF analyst Eric Balchunas emphasized that Fidelity now leads this category, while BlackRock continues to focus solely on Bitcoin and Ethereum ETFs. He called the debut “Game on,” noting that Bitwise’s BSOL holds nearly $450 million in assets under management. As one of the largest asset managers, Fidelity’s entry provides a reliable avenue for pension funds, wealth managers, and ordinary investors to access SOL more easily.

ETF Prime host Nate Geraci noted that Fidelity, ranked as the world’s third-largest asset manager, now provides both direct SOL holdings and a spot Solana ETF. In addition, the Canary Marinade Solana ETF has received Nasdaq approval to trade under the ticker SOLC, according to a CERT filing with the US SEC.

Fidelity recently rolled out *direct* spot solana trading…

Tomorrow they’ll launch spot sol ETF.

So both direct sol access & spot ETFs.

World’s *third* largest asset manager.

Welcome to the future.

Still surprised BlackRock sitting this one out. pic.twitter.com/h4JqUHMYB2

— Nate Geraci (@NateGeraci) November 18, 2025

As reported by James Seyffart, an ETF analyst at Bloomberg, the release of the new SOLC ETF will take place tomorrow with the collaboration of Canyon Capital and Marinade Finance. Marinade sets the ETF’s management fee at 0.50%, with no fee waiver currently announced.

ALSO. @CanaryFunds will be launching their Solana ETF — $SOLC — tomorrow too. It’s in partnership with @MarinadeFinance who will be doing the staking. https://t.co/DKsDY3xymg

— James Seyffart (@JSeyff) November 18, 2025

Competitors Face a Heated Solana ETF Race

The Solana ETF market is already competitive. Bitwise BSOL, the first Solana ETF, manages almost $450 million in assets, even though SOL has fallen about 30% since its launch. Grayscale plans to convert its GSOL Trust into an ETF, though regulatory approval is pending.

VanEck’s VSOL entered the market on Monday, becoming the first competitor to challenge Fidelity. VSOL allows investors to earn rewards by staking Solana on the blockchain, similar to Bitwise and Grayscale ETFs. The fund has temporarily removed its 0.3% management fee until February 17 or until assets reach $1 billion to remain competitive.

SOL price has dropped more than 17% over the past week, even as Solana ETFs collectively received nearly $400 million in inflows. SOL fell 4% today, trading at $136.98, with a 24-hour range between $129.02 and $142.47. However, it recorded over 6% recovery from the 24-hour low, showing renewed trader interest.

Other altcoin ETFs will come out soon based on the Solana trend. Grayscale’s Dogecoin ETF will make its debut on November 24, according to the prediction of Balchunas. The new ETF would convert Grayscale’s existing Dogecoin Trust (DOGE) and trade on the New York Stock Exchange. This shows the growing interest of the community in altcoin ETFs.

Based on 20 day clock I believe Grayscale will be out with first Doge ETF in a week, 11/24. We'll see, won't be 100% till exchange notice, but based on SEC guidance it looks good. pic.twitter.com/mvlGsNyNVG

— Eric Balchunas (@EricBalchunas) November 17, 2025