Key Insights
- Fidelity and Canary ETFs bring the total number of Solana ETFs to five, enhancing access for both retail and institutional investors.
- SOL price approaches a technical breakout after rebounding from $129, supported by growing ETF-driven market activity.
- Fidelity waives FSOL fees for six months and absorbs staking costs on $1B, intensifying competition in the Solana ETF space.
Fidelity and Canary Capital launched two new spot Solana ETFs, increasing the total number of listed SOL ETFs to five. Fidelity’s FSOL began trading on NYSE Arca with a six-month fee waiver, confirmed through an SEC 8-A filing. Canary’s SOLC ETF also went live, contributing to the most concentrated wave of Solana ETF listings to date.
Fidelity introduced a competitive management fee of 0.25 percent for its FSOL ETF. The firm will also absorb staking-related costs on the first $1 billion in assets. Bloomberg analyst Eric Balchunas confirmed these details, underscoring Fidelity’s strategy to attract institutional flows. Bitwise’s BSOL has already drawn nearly $450 million, suggesting growing interest in structured Solana products.
SOL Price Moves Toward Resistance Zone
Solana’s price is currently testing the upper boundary of a falling channel following a recovery from the $129 level. This zone has shaped recent trading behavior, with price action now approaching the mid-line of the channel, a key structural point often associated with directional shifts. The $145 and $170.80 zones remain significant as historical reaction levels.
SOL continues to show signs of stability, maintaining its position above the $138 level. This support zone has underpinned the recent rebound and aligns with the ETF-related inflows. The price structure remains clean, and sustained pressure against the channel ceiling increases the probability of a breakout.
Technical Indicators Suggest Controlled Strength
The daily RSI holds near 50 and remains above its signal line, indicating balanced momentum. The pattern suggests continued upward drive without signs of overextension. A confirmed move above the channel could open a path toward $189.05 and possibly $200.
The timing of these ETF launches has coincided with a tightening technical setup for Solana. As the market digests the impact of expanded access through FSOL and SOLC, price consolidation within a defined range continues. Combined inflows and new investor categories are helping reinforce the market structure.
