Fidelity Seeks SEC Approval for Spot Solana ETF Amid Growing Institutional Interest

On Tuesday, Cboe filed a 19b-4 form with the SEC to list shares of a Fidelity ETF tracking Solana's price, following Fidelity's Delaware Trust registration last Thursday for its Solana fund. This move comes amid increasing institutional interest in Solana, the sixth-largest cryptocurrency with a market cap of $74 billion. Several firms, including Grayscale, Franklin Templeton, and VanEck, have also submitted filings for spot Solana ETFs. Bloomberg analysts estimate a 70% chance of approval for Solana ETFs this year. Last week, crypto investment products saw $644 million in net inflows, driven by Bitcoin and Solana-based offerings. Fidelity's Wise Origin Bitcoin Fund (FBTC) has attracted nearly $17 billion in assets since its launch last year, while the Fidelity Ethereum Fund (FETH) manages roughly $975 million.