Analysts See Fidelity Gaining Early Lead In Solana ETFs

Fidelity Investments has officially launched trading of its Fidelity Solana Fund ETF (FSOL) on NYSE Arca as of November 18, 2025, marking another major step in the mainstream expansion of Solana-based investment products.

A day before trading began, Fidelity filed Form 8-A with the U.S. Securities and Exchange Commission (SEC). Under updated cryptocurrency listing rules, this streamlined process allows issuers to bypass extended document amendments — enabling a quicker launch.

FSOL includes staking through trusted intermediaries. A representative told The Block that Fidelity will not charge placement or management fees until May 2026, a move analysts see as a competitive advantage in attracting early capital.

This becomes the fifth spot Solana ETF in the United States, not counting products from REX Shares and Osprey Funds, which operate as C Corporations rather than traditional investment contracts. Other providers already in the market include Bitwise, Grayscale Investments, and VanEck.

Analysts Expect Fidelity to Lead the Solana ETF Market

FSOL launches alongside SOLC, a spot Solana ETF from Canary Capital, which is also scheduled to debut on November 18. Still, experts believe Fidelity is positioned to take the lead given its size, brand trust, and fee structure.

Bloomberg Intelligence analyst Eric Balchunas noted:

NovaDius Wealth Management CEO Nate Geraci echoed this sentiment, questioning why BlackRock — the world’s largest asset manager — has not yet extended its crypto ETF lineup.

Meanwhile, capital continues pouring into the wider crypto ETF sector, totaling over $342 million in the first 10 days of the month, reinforcing sustained market interest.