Fidelity has filed for a “Fidelity Solana Fund” through the Cboe BZX Exchange Inc. to enter the market for Solana-based financial products.
Other major firms such as Franklin Templeton, Grayscale, Canary Capital, and VanEck have already filed for spot Solana ETFs.
The surge in crypto ETF filings has been driven by the success of Bitcoin and Ethereum products, and Fidelity aims to expand its offerings by adding Solana.
Solana's price has seen a notable increase amidst growing interest as financial institutions back Solana-based products.