- SEC greenlights review of Fidelity’s Solana ETF, opening door to U.S. approval.
- Solana Trust structure includes staking rewards to boost the fund’s net asset value.
- SOL dips 2% despite ETF momentum, as macro policy fears weigh on crypto markets.
The U.S. SEC acknowledged Fidelity’s Solana ETF application under Rule 14.11 (E)(F) for commodity trust shares. This action aligns Solana with Bitcoin and Ethereum in the regulated ETF domain for digital asset exposure.
SEC Acknowledges Fidelity’s Filing for Solana Commodity ETF
According to a post by Crypto Town Hall, the SEC received Fidelity’s Solana ETF filing under commodity-based ETF rules. The Cboe BZX Exchange applied on March 25 and amended it on April 1. This application aims to list shares of the Fidelity Solana Fund under regulated commodity trust guidelines.
Besides the filing, Fidelity registered the fund as the Fidelity Solana Trust with CSC Delaware Trust Company. The SEC’s recognition begins the ETF approval process, requiring publication in the Federal Register. This publication opens a 21-day comment period, followed by a 45–90 day SEC review timeline.
Fidelity joins six other major asset managers seeking regulatory clearance for Solana-based investment products. Cboe previously filed for the Franklin Templeton Solana ETF, showing broader institutional momentum. These applications reflect increased interest in Solana as a high-speed, scalable blockchain for financial products.
Solana Trust Operates Under Staking-Based Commodity Framework
The Trust structure retains ownership of SOL and delegates tokens to validators for staking rewards. These validators perform essential duties in Solana’s proof-of-stake system, securing the blockchain. Staking rewards earned through delegation are reinvested into the Trust, supporting net asset value growth.
SOL tokens held in the Trust are not actively traded or managed under speculative strategies.
Instead, the Trust operates passively, mirroring structures applied to gold and other commodity-based ETFs. Staking participation follows Solana’s protocol schedule, with no guarantees on fixed yields or intervals.
The Trust’s model allows indirect SOL exposure while complying with institutional-grade custodial and valuation rules. This structure aligns with ETF principles that govern commodities like oil, silver, and Bitcoin. Solana’s validator architecture enables decentralized block production without compromising transaction throughput.
Solana Price Drops Amid Regulatory Advancements
SOL failed to post gains despite Fidelity’s regulatory progress, trading at $116.61 at the time of reporting. The token lost 2% in 24 hours, extending a 7% weekly and 6.4% monthly price decline. Analysts attribute part of the weakness to market-wide concerns triggered by Donald Trump’s tariff policy remarks.
SOL remains the seventh-largest cryptocurrency by market cap, with strong fundamentals driving long-term institutional interest. Despite price volatility, regulated vehicles like ETFs can increase Solana’s accessibility across traditional finance channels. Market sentiment continues to influence short-term trends, though regulatory engagement may reshape investment dynamics.
