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Fidelity Jumps Into Solana ETF Race With Staking-Enabled Fund

MarketDash Editorial Team
19 days ago
Fidelity Investments launched its Solana ETF on Tuesday with staking rewards included, joining a growing field of asset managers racing to capture institutional demand for the proof-of-stake cryptocurrency. The fund comes with a generous fee waiver through mid-2026 as competition heats up.

The Solana ETF market just got a lot more crowded. Fidelity Investments, one of the largest asset managers on the planet, officially launched its Solana (SOL) exchange-traded fund on Tuesday, adding another heavyweight contender to what's quickly becoming a competitive race for crypto exposure.

Another Major Player Enters the Arena

The firm filed a Form 8-A with the SEC on Monday and started trading the Fidelity SOL Fund under the ticker FSOL shortly after. What makes this fund interesting is that it includes staking rewards, a feature that's still relatively uncommon among U.S.-listed crypto products. When you hold a proof-of-stake cryptocurrency like Solana, you can earn yield by participating in network validation. Now ETF investors can access that yield without setting up their own wallets or dealing with validators directly.

Fidelity isn't the first to offer this. Bitwise launched its Solana ETF back in October, and Grayscale followed with its own staking-enabled product. VanEck started trading its version on Nasdaq just Monday. And Canary Capital is reportedly set to debut its Solana ETF on Tuesday as well, making for quite the launch day traffic jam.

Bloomberg ETF analyst Eric Balchunas highlighted Fidelity's entrance on X, suggesting the race for Solana exposure is picking up speed. Given Fidelity's scale and existing footprint in crypto ETFs—it already operates Bitcoin (BTC) and Ethereum (ETH) funds—this move signals that institutional demand for Solana is real and growing.

Fee Waivers to Lure Early Investors

To build momentum out of the gate, Fidelity is offering something hard to ignore: zero fees. A company spokesperson confirmed the firm will waive all management and staking fees until May 18, 2026. That's over a year of free access to Solana exposure with yield on top.

After the waiver period ends, FSOL will charge a 25-basis-point expense ratio and take a 15% cut of staking rewards. That's competitive, but the real hook is the fee-free runway. In a market where multiple issuers are launching similar products within days of each other, an extended waiver could be the difference between attracting assets and getting left behind.

Interestingly, BlackRock (BLK) hasn't entered the Solana ETF space yet, even though its iShares funds dominate the Bitcoin and Ethereum markets. Nate Geraci, CEO of NovaDius Wealth Management, pointed out this absence. Whether BlackRock is sitting out or just waiting for the right moment remains to be seen.

Solana's Price Shows Signs of Life

Solana (SOL) is trading near $141 after bouncing roughly 8% from a demand zone around $130. That's a nice short-term move, but the broader picture is still murky. The token broke below its year-long ascending structure last week and remains under all major moving averages, which are currently sloping downward.

The failed symmetrical triangle pattern and rejection near $185 reinforced a series of lower highs, a classic sign of weakening momentum. The 20-day exponential moving average sits near $157 and has been acting as a ceiling where sellers keep stepping in. A close above the 50-day EMA would be the first real signal that buyers are regaining control.

If Solana stalls at current levels, there's a risk it could revisit the $128 to $122 support zone. For now, the bounce is encouraging, but it's not yet conclusive. The launch of multiple Solana ETFs could provide a tailwind, but price action will ultimately depend on broader market conditions and whether institutional money flows into these new products.

With Fidelity now in the mix alongside Bitwise, Grayscale, VanEck, and potentially Canary Capital, the Solana ETF landscape is evolving fast. Investors who want exposure to Solana without the hassle of self-custody now have more options than ever—and for the next year, at least one of them comes with no fees attached.

Back to News

Fidelity Jumps Into Solana ETF Race With Staking-Enabled Fund

MarketDash Editorial Team
19 days ago
Fidelity Investments launched its Solana ETF on Tuesday with staking rewards included, joining a growing field of asset managers racing to capture institutional demand for the proof-of-stake cryptocurrency. The fund comes with a generous fee waiver through mid-2026 as competition heats up.

The Solana ETF market just got a lot more crowded. Fidelity Investments, one of the largest asset managers on the planet, officially launched its Solana (SOL) exchange-traded fund on Tuesday, adding another heavyweight contender to what's quickly becoming a competitive race for crypto exposure.

Another Major Player Enters the Arena

The firm filed a Form 8-A with the SEC on Monday and started trading the Fidelity SOL Fund under the ticker FSOL shortly after. What makes this fund interesting is that it includes staking rewards, a feature that's still relatively uncommon among U.S.-listed crypto products. When you hold a proof-of-stake cryptocurrency like Solana, you can earn yield by participating in network validation. Now ETF investors can access that yield without setting up their own wallets or dealing with validators directly.

Fidelity isn't the first to offer this. Bitwise launched its Solana ETF back in October, and Grayscale followed with its own staking-enabled product. VanEck started trading its version on Nasdaq just Monday. And Canary Capital is reportedly set to debut its Solana ETF on Tuesday as well, making for quite the launch day traffic jam.

Bloomberg ETF analyst Eric Balchunas highlighted Fidelity's entrance on X, suggesting the race for Solana exposure is picking up speed. Given Fidelity's scale and existing footprint in crypto ETFs—it already operates Bitcoin (BTC) and Ethereum (ETH) funds—this move signals that institutional demand for Solana is real and growing.

Fee Waivers to Lure Early Investors

To build momentum out of the gate, Fidelity is offering something hard to ignore: zero fees. A company spokesperson confirmed the firm will waive all management and staking fees until May 18, 2026. That's over a year of free access to Solana exposure with yield on top.

After the waiver period ends, FSOL will charge a 25-basis-point expense ratio and take a 15% cut of staking rewards. That's competitive, but the real hook is the fee-free runway. In a market where multiple issuers are launching similar products within days of each other, an extended waiver could be the difference between attracting assets and getting left behind.

Interestingly, BlackRock (BLK) hasn't entered the Solana ETF space yet, even though its iShares funds dominate the Bitcoin and Ethereum markets. Nate Geraci, CEO of NovaDius Wealth Management, pointed out this absence. Whether BlackRock is sitting out or just waiting for the right moment remains to be seen.

Solana's Price Shows Signs of Life

Solana (SOL) is trading near $141 after bouncing roughly 8% from a demand zone around $130. That's a nice short-term move, but the broader picture is still murky. The token broke below its year-long ascending structure last week and remains under all major moving averages, which are currently sloping downward.

The failed symmetrical triangle pattern and rejection near $185 reinforced a series of lower highs, a classic sign of weakening momentum. The 20-day exponential moving average sits near $157 and has been acting as a ceiling where sellers keep stepping in. A close above the 50-day EMA would be the first real signal that buyers are regaining control.

If Solana stalls at current levels, there's a risk it could revisit the $128 to $122 support zone. For now, the bounce is encouraging, but it's not yet conclusive. The launch of multiple Solana ETFs could provide a tailwind, but price action will ultimately depend on broader market conditions and whether institutional money flows into these new products.

With Fidelity now in the mix alongside Bitwise, Grayscale, VanEck, and potentially Canary Capital, the Solana ETF landscape is evolving fast. Investors who want exposure to Solana without the hassle of self-custody now have more options than ever—and for the next year, at least one of them comes with no fees attached.