13.06.2025 22:17

Fidelity Investments has submitted a registration for a Solana spot exchange-traded fund (ETF), marking a significant leap towards wider institutional acceptance of the altcoin. This bold move positions Solana alongside established cryptocurrencies like Bitcoin and Ethereum in the pursuit of attracting large-scale institutional investments.

The filing follows a recent surge of ETF applications focusing on Solana. Bitwise and Canary, for instance, have updated their applications, crucially incorporating staking capabilities—a feature previously deemed too risky given regulatory ambiguity. Adding to the momentum, Invesco Galaxy's Solana spot ETF registration in Delaware, though not yet SEC-approved, demonstrates considerable progress and growing institutional confidence in Solana's future.

This flurry of activity represents a potential paradigm shift in US regulatory treatment of altcoins. Previously, the SEC had only approved spot ETFs for Bitcoin and Ethereum, excluding staking functionalities in the case of Ethereum. However, the appointment of Chairman Paul Atkins, known for a more crypto-friendly stance, has fueled optimism for the approval of further altcoin ETFs, including those with staking mechanisms.

A successful outcome for Fidelity's application could dramatically increase institutional investment in Solana and establish a precedent for future altcoin ETFs within the US market, potentially unlocking unprecedented levels of market access for this burgeoning sector. The implications for the broader cryptocurrency landscape are significant and may signal a new era of regulatory acceptance.