Fidelity has taken a decisive step in launching its spot Solana ETF by filing an updated S-1 form and removing a key regulatory hurdle, signaling strong confidence in an imminent launch and marking a significant moment for institutional crypto adoption.
A Streamlined Path to Launch
Fidelity’s key strategic move was removing the “delaying amendment” (Rule 473) from its S-1 registration. This clause typically gives the Securities and Exchange Commission (SEC) discretionary power to postpone the effective date of a new fund. By deleting it, Fidelity has set the filing on a course to become effective automatically after a statutory review period, significantly accelerating the potential launch timeline. This action demonstrates Fidelity’s preparedness and suggests a launch could happen swiftly, possibly as early as mid-November 2025.
A Fund Designed for Yield
The updated filing outlines a compelling value proposition for investors. Fidelity plans to stake nearly 100% of the fund’s Solana (SOL) holdings. This means the assets will be used to help operate the Solana blockchain network, generating rewards for shareholders. The goal is to provide an approximate 7% annual yield from these staking rewards, offering investors a return on top of any potential price appreciation of SOL itself. For this service, the fund will charge a 0.25% annual fee, which will be waived for the first six months after launch.
Riding a Wave of Institutional Adoption
Fidelity’s move is part of a broader wave of institutional products bringing Solana to traditional investors. This momentum was bolstered by an SEC ruling in August 2025 that clarified certain liquid staking activities do not constitute securities offerings, creating a clearer regulatory path for such products.
The market has already shown strong appetite for these offerings. Bitwise’s Solana Staking ETF (BSOL) debuted just before Fidelity’s update, attracting a remarkable $69.5 million in net inflows on its first day. Grayscale also launched its Solana Trust ETF (GSOL), converting an existing trust into a newer ETF structure. This rapid succession of products highlights a significant shift, with Wall Street formally embracing Solana as a standalone asset class for the first time.
