Cboe BZX files for a ‘Fidelity Solana Fund’ as race for a SOL ETF heats up

Fidelity, one of the world's largest asset managers, has entered the ring for a Solana fund after Cboe BZX Exchange Inc. filed an essential form on behalf of the firm.In a 19b-4 form filing on Tuesday, Cboe BZX Exchange filed for the "Fidelity Solana Fund," a few days after CSC Delaware Trust Company registered a new statutory trust named "Fidelity Solana Fund."Fidelity's move is significant given the size of the firm. Others, including Franklin Templeton, Grayscale, Canary Capital and VanEck, have filed for spot Solana ETFs. Last week, Volatility Shares launched the first ETFs tied to the price of Solana, giving investors exposure to futures contracts.Firms have been vying for a slew of crypto ETFs with proposals for everything from Pengu to Dogecoin to XRP and SOL. Under the previous administration, the SEC approved the listing of spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July. Fidelity currently has Bitcoin and Ethereum ETFs.A Fidelity spokesperson said the firm has been working to develop its “digital assets ecosystem” over the years. “A meaningful portion of our customers are interested in and own digital assets,” the spokesperson said in an email. “Fidelity remains committed to providing customers with a portfolio of solutions that offer choice, accompanied by education and support as they leverage products to meet their needs.”Since crypto-supportive President Donald Trump took office in January, the agency has signaled a more friendly approach to the industry, such as dropping enforcement actions against major crypto industry players and creating a crypto task force to work out how to regulate the industry.Solana's price rose on Tuesday up to $145, up from $128 a few days earlier, according to The Block's price data. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.