Fidelity Investments has officially filed for a spot Solana SOL ETF with the Chicago Board Options Exchange (CBOE). The firm already runs a spot Bitcoin and Ethereum exchange-traded fund and is looking to be one of the first firms to launch a spot SOL ETF upon SEC approval.
JUST IN: Fidelity files for spot Solana ETF with CBOE.
— Watcher.Guru (@WatcherGuru) March 25, 2025
The Cboe BZX Exchange, a subsidiary of the Chicago Board Options Exchange Group, has submitted a proposed rule change to the U.S. Securities and Exchange Commission (SEC) through a 19b-4 filing. This move marks a significant step in the ongoing efforts to introduce a Solana-based exchange-traded fund in the U.S.
Throughout the last several weeks, all eyes have been on what cryptocurrencies could join Bitcoin and Ethereum as the only exchange-traded products in the US. Now, the talks of a Solana ETF have heated up with Fidelity’s application.
Unlike other applicants like Grayscale, Franklin Templeton, and VanEck, Fidelity oversees a significantly larger asset base—approximately $15 trillion in total client assets. It provides substantial institutional and mainstream weight and credibility behind its application for a Solana-focused investment product. With Bitcoin and Ethereum’s early ETF success, Solana is expected to attract just as much attention and hype upon approval/launch.
Fidelity’s filing for a spot Solana SOL ETF would signal heightened institutional demand for the altcoin. The Solana SOL price is now up by 16% in the past week, trading as high as $143 on Tuesday. Experts expect the asset to march towards $300 upon official approval of the first Spot SOL ETF.