Cboe BZX Exchange Files for Fidelity Solana ETF Amidst Broadening Crypto ETF Landscape

On March 25, Cboe BZX Exchange filed with the SEC to list the "Fidelity Solana Fund," days after Fidelity registered a statutory trust for the fund. This move follows a wave of filings for Solana ETFs, including those from Franklin Templeton, Grayscale, and VanEck. Volatility Shares launched the first Solana-linked ETFs last week, offering exposure to futures contracts. The SEC's stance on crypto has seemingly softened since January, potentially paving the way for more altcoin ETFs, including those tied to Litecoin, XRP, and Dogecoin. Bloomberg Intelligence analysts estimate a 70% chance of spot SOL ETF approval this year. The CME launched SOL futures contracts on March 17, further signaling potential approval. Fidelity has existing Bitcoin and Ethereum ETFs and is expanding its digital asset ecosystem to meet customer demand. Under the previous administration, the SEC approved the listing of spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July.