Fidelity, one of the world's biggest asset managers, has joined others in launching a Solana exchange-traded fund, which includes a staking feature.
Fidelity debuted the Fidelity SOL Fund, with the ticker symbol FSOL on Tuesday, a spokesperson said. This comes after the asset manager filed a Form 8-A on Monday with the U.S. Securities and Exchange Commission, essentially preparing it for the fund to launch.
"The addition of staking in our Solana fund is a monumental win for the industry—and investors—as it’s a critical part of the ecosystem to help secure the network, and a yield generating opportunity for investors," said Matt Horne, head of digital asset Strategists at Fidelity Investments, in a statement.
Fidelity is now the third firm to debut its SOL ETF, and it is the firm's first to include a staking feature. Bitwise first launched its SOL ETF in late October, with Grayscale following close behind. Grayscale's fund also has a staking component. Canary Capital is also expected to launch its Solana ETF (SOLC) on Tuesday.
"Easily the biggest asset manager in this category with BlackRock sitting out," Bloomberg ETF analyst Eric Balchunas noted on X. "Game on."
A Fidelity spokesperson stated that the firm would waive investment and staking fees until May 18, 2026. Thereafter, the fund will have an expense ratio of 25 bps and a staking fee of 15%.
Fidelity has previously launched a bitcoin ETF and an Ethereum ETF. On Monday, VanEck introduced its Solana ETF and is now trading on Nasdaq.
"Welcome to the future. Still surprised BlackRock sitting this one out," said NovaDius Wealth Management CEO Nate Geraci. BlackRock's iShares unit currently manages the largest BTC and ETH ETFs by AUM.
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