Fidelity has submitted an application for a Solana ETF, which could lead to increased institutional investment in the altcoin market. This news comes amidst active moves from other companies.
Details of Fidelity's Application
Fidelity’s filing for the Solana ETF comes amid a flurry of ETF-related activity surrounding Solana. Earlier this evening, Bitwise and Canary both submitted updated S-1 filings for their Solana spot ETFs, with notable amendments that now include staking functionality — a key feature previously avoided due to regulatory uncertainty.
Registration of Invesco Galaxy ETF
Just hours before Fidelity’s filing, Invesco Galaxy’s Solana Spot ETF was registered in Delaware. While this is not yet an SEC approval, the registration is widely viewed as a positive procedural step that signals serious intent and growing institutional interest in Solana.
Outlook for the Altcoin Market
This latest wave of filings marks a potential turning point in U.S. regulatory policy for altcoins. Until now, the SEC has only approved spot ETFs for Bitcoin and Ethereum, and only non-staking versions of Ethereum ETFs were given the green light. However, with a new, crypto-friendly SEC leadership under Chairman Paul Atkins, expectations are rising that other altcoin ETFs — including those that incorporate staking — may soon be approved.
If successful, Fidelity’s application could open the floodgates for broader institutional exposure to Solana and set a precedent for future altcoin ETFs in the U.S. market.
