Fidelity has submitted a regulatory filing to list its Solana ETF on the New York Stock Exchange, which represents a significant advancement in the approval process for this digital asset-focused exchange-traded fund. The filing, known as Form 8-A12B, is a necessary step mandated by the Securities and Exchange Commission before any ETF can be traded on a national securities exchange.
This filing is particularly timely as Fidelity joins other significant financial institutions entering the crypto ETF market, which is gaining traction as investors show renewed interest in digital assets. Notably, the recent market activity surrounding Solana has been promising, with two new Solana ETFs recently being launched, both of which have attracted considerable initial investments.
For instance, Bitwise’s BSOL ETF experienced remarkable success on its first day, bringing in $69.5 million, positioning it as one of the most successful crypto ETF launches in 2023. Additionally, VanEck has added to the competitive landscape today with its own Solana ETF, named VSOL. The robust performance of these new ETFs indicates a vibrant demand for cryptocurrency investment options among retail investors.