Fidelity’s Solana ETF Nears Launch After S1 filing Update

Highlights:

• Fidelity plans to stake nearly 100% of the Solana ETF’s holdings for investor yield.
• The updated S-1 removes the SEC delay clause, enabling auto-effectiveness in 20 days.
• Fidelity introduces a custom pricing index for its Solana ETF to track SOL performance precisely.

Fidelity Investments has submitted a revised filing of its Fidelity Solana Fund (FSOL), a spot Solana exchange-traded fund (ETF), eliminating a major delay provision of earlier versions. The update puts the ETF into effect automatically after 20 days unless the SEC takes action.

According to Eleanor Terrett of Crypto in America, Fidelity has followed the recent approach of Bitwise, which resulted in the successful debut of an ETF earlier this week. Her update pointed to a coordinated move of firms such as VanEck and Canary Funds to a similar 20-day approval route.

🚨NEW: @Fidelity @DigitalAssets has just filed an updated S-1 for its $SOL ETF, removing the “delaying amendment” that prevents a registration from going auto-effective and gives the @SECGov control over timing, following the lead of @BitwiseInvest, which launched its $BSOL ETF… pic.twitter.com/frb9PIkNYU

— Eleanor Terrett (@EleanorTerrett) October 29, 2025

Solana ETF Filing Signals Strong Push Toward Launch

The amended S-1 by Fidelity represents its fourth update and a significant change in how it operates the Solana ETF, which almost stakes all of its holdings. The company will put SOL tokens in the hands of a group of validators, with staking rates of about 7% per year. The small amount of tokens will stay liquid to manage the daily activity.

The Fidelity Solana Fund (FSOL) will be listed on NYSE Arca. It will be based on the new Solana Reference Rate developed by Fidelity, which will track the real-time pricing. Fidelity intends to develop a hybrid ETF model by leveraging staking rewards and market exposure.

The ETF will be sponsored by FD Funds Management LLC. Custodians will be Anchorage Digital Bank, Coinbase Custody Trust Company, and BitGo Trust Company. The framework will have trusted institutions to run token custody and investor funds safely. The filing highlights how institutional products are now pursuing yield using blockchain infrastructure. Moreover, staking allows ETFs to earn passive income while contributing to blockchain security.

Bitwise’s ETF Sparks Solana ETF Momentum

Bitwise introduced its BSOL fund on the NYSE earlier this week. The fund attracted $69.5 million of net inflows and more than $56 million in first-day trading volume. This performance indicated high demand for Solana-based ETFs.

Final tally of Day One trading.. $BSOL: $56m$HBR: $8m$LTCC: $1m
I can't believe how close I came. ETF sixth sense for the win. Wish there was a @Polymarket for this I'd be rich. https://t.co/TODOk13WUt

— Eric Balchunas (@EricBalchunas) October 28, 2025

SEC Chair Paul Atkins, according to Eleanor, said that he supported companies that used the 20-day timeframe on the auto-effectiveness rule. He did not mention Solana ETFs specifically, but he gave the example of MapLight with its public listing as a positive exercise of the legal mechanism.

The market entry of Fidelity now becomes part of this broader push, with the issuers taking the automatic route during the government shutdown. The timing shift provides an opportunity to launch several Solana ETFs in the near future.

Institutional Access to Solana Grows Rapidly

Earlier this month, Fidelity launched Solana trading as an addition to its crypto services. Its platforms currently support SOL in Fidelity Crypto, Digital Asset, and Crypto for IRAs and Wealth Managers. This move increased both retail and institutional exposure to Solana.

Fidelity emphasized speed and the low cost of Solana. It cited 60,000 transactions per minute and transaction costs at less than a cent, considerably better than Bitcoin and Ethereum. Additionally, Grayscale’s ETF approval this week was the first regulated Solana ETF in the U.S. In Asia, Hong Kong also approved its Solana ETF, which began trading on October 27. It becomes the third crypto ETF in the region after Bitcoin and Ethereum.