Fidelity Files Solana ETF Proposal, Boosting Institutional Confidence

Fidelity, managing $4.9 billion in assets, has officially filed a 19b-4 form with Cboe to launch a Solana (SOL) ETF in the U.S., marking a major institutional step in the crypto space. This filing positions Fidelity as the largest player in the Solana ETF race, following similar moves by entities such as Franklin Templeton and BlackRock's expanding blockchain initiatives with Solana. Although the market reaction to the filing has been muted—with SOL only gaining about 1%—this news was largely anticipated. Market analysts note that the filing could drive long-term institutional interest, increase liquidity, and set the stage for broader adoption as regulatory hurdles are cleared. Polymarket bettors currently estimate an 85% chance of a SOL ETF being approved this year, underscoring the potential for future upside. The move signals an evolving crypto landscape where traditional financial institutions continue to integrate digital assets into their investment products.