Fidelity Files Spot Solana ETF on Cboe

Cboe, the exchange where the ETF will be listed, filed a 19b-4 document with the Securities and Exchange Commission on Tuesday.

Helen Brown | Edited by Nikhilesh De , 25 Mar 2025 18:01 UTC

Fidelity CEO Abigail Johnson (CoinDesk/Shutterstock)

What you need to know:

  • Fidelity has filed to list Solana on the Cboe platform.
  • Grayscale, Franklin Templeton and VanEck have also filed for similar exchange-traded products tracking the crypto asset.

Fidelity Investments plans to create an exchange-traded fund (ETF) that will track the price of Solana (SOL), according to a filing with the Securities and Exchange Commission on Tuesday.

Cboe Exchange has filed a 19b-4 to list the $5 trillion financial giant's Solana ETF, following the Fidelity Solana Fund's registration in Delaware last week.

Fidelity has not yet filed an S-1, which is required for companies to issue new securities and list them on a public stock exchange.

Solana, with a market cap of $74 billion, is currently the sixth-largest crypto asset by market value in the world. Several asset managers have filed with the SEC to create funds that hold the token, including Grayscale, Franklin Templeton, and VanEck.

Last week, two ETFs (SOLZ and SOLT) tracking SOL futures entered the Nasdaq market, marking a major step toward approval of a spot exchange-traded product.

Fidelity has previously launched two spot crypto ETFs: the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH). Both were launched last year. FBTC has raised about $17 billion in assets — or bitcoins — while FETH handles about $975 million.

Many Fidelity clients are interested in owning cryptocurrencies, and a significant number already do. The company has been developing its digital asset ecosystem since 2014.

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