Spot Solana ETF Race Heats Up as Fidelity, VanEck, and Others File Updated S-1s
The race to launch a spot Solana (SOL) exchange-traded fund (ETF) intensified Friday, as several leading investment firms submitted updated S-1 filings—an essential step toward regulatory approval.
According to public disclosures, Franklin Templeton, Galaxy Digital, VanEck, and Grayscale all filed amendments for their spot Solana ETF proposals. Grayscale’s filing included a disclosed fee structure of 2.5%.
In a notable development, Fidelity also joined the push by submitting its first S-1 filing for a spot Solana exchange-traded product. A source familiar with the matter confirmed to The Block that this marks Fidelity’s initial official step toward launching a Solana-based fund.
ETF analysts say this surge in activity may indicate growing confidence that the U.S. Securities and Exchange Commission (SEC) could soon approve altcoin-based ETFs beyond Bitcoin and Ethereum.
The SEC has yet to approve any spot ETF tied to an altcoin, but the momentum seen Friday signals increasing institutional interest in expanding crypto-based investment products.
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