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Fidelity Files for Spot Solana ETF on Cboe Exchange
Cboe Exchange, which the ETF would be listed on, submitted a 19b-4 filing with the Securities and Exchange Commission on Tuesday.
Mar 25, 2025, 6:01 p.m.
What to know:
- Fidelity filed for a spot Solana exchange-traded fund (ETF) with Cboe.
- Grayscale, Franklin Templeton and VanEck have filed for similar exchange-traded products tracking the crypto asset.
Fidelity Investments is looking to create an exchange-traded fund (ETF) tracking the price of Solana , a filing with the Securities and Exchange Commission on Tuesday shows.
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Cboe Exchange uploaded a 19b-4 filing to list a Solana ETF proposed by the $5 trillion Wall Street veteran. This comes after the firm registered a Fidelity Solana Fund in Delaware last Thursday.
Fidelity has yet to submit an S-1 filing, which is required for companies seeking to issue a new security and be listed on a public stock exchange.
Solana, at $74 billion, is currently the sixth-largest crypto asset by market capitalization in the world. Several asset managers have filed applications with the SEC to launch funds holding the token, including Grayscale, Franklin Templeton and VanEck.
Last week, two ETFs (SOLZ and SOLT) tracking SOL futures hit the market on Nasdaq, a significant step in getting a spot exchange-traded product approved.
Fidelity has previously issued two spot crypto ETFs: the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH). Both launched last year. FBTC has attracted nearly $17 billion in assets — or bitcoin — and FETH handles roughly $975 million.
Many of Fidelity’s clients are interested in owning cryptocurrencies and a large portion already does. The firm has been working on its digital asset ecosystem since 2014.
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CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral
Acting Chair Caroline Pham has unveiled a first-of-its-kind U.S. program to permit tokenized collateral in derivatives markets, citing "clear guardrails" for firms.
What to know:
- The CFTC has launched a pilot program allowing BTC, ETH and USDC to be used as collateral in U.S. derivatives markets.
- The program is aimed at approved futures commission merchants and includes strict custody, reporting and oversight requirements.
- The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions following the GENIUS Act.
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