NYSE Arca Certifies Fidelity Solana Trust ETF Listing Under U.S. Securities Act
Fidelity’s staking-enabled Solana ETF launch coincides with Franklin Templeton’s SEC Form 8-A filing for its own Solana Trust, signaling further competition in the expanding blockchain-based ETF market.
Fidelity has introduced its Solana ETF with staking features as the fourth U.S. spot Solana ETF, joining VanEck, Bitwise, and Grayscale. Meanwhile, Franklin Templeton, which manages $1.69 trillion in assets, has filed SEC Form 8-A for its Franklin Solana Trust, a step typically taken shortly before trading begins. The filing indicates a likely NYSE Arca listing within days. Fidelity’s ETF debuted on November 19, 2024, with a 0.25% management fee, targeting a share of the competitive Solana ETF market that includes Bitwise’s $BSOL ($450 million in assets) and VanEck's $VSOL.
- ETF: An exchange-traded fund that allows investors to gain exposure to an asset without directly owning it.
- Solana: A high-performance blockchain platform designed for decentralized applications and crypto projects.
- Staking: The process of participating in the proof-of-stake consensus mechanism by locking up cryptocurrency to earn rewards.