Cboe BZX Files 19b-4 for Fidelity’s Solana ETF Amid Growing Crypto ETF Trend

Cboe BZX Exchange has taken a significant step towards integrating Solana into traditional investment vehicles by filing a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Fidelity Solana Fund. This move is part of a broader industry push for crypto ETFs, as other firms also seek regulatory approval for spot Solana ETFs.

• Cboe BZX files 19b-4 for Fidelity’s Solana ETF
• Multiple firms seek approval for spot Solana ETFs
• Fidelity also applies for blockchain-based money market fund ETF
• Recent launch of Solana futures ETFs

The 19b-4 form, a regulatory filing required by the SEC for listing new ETFs, marks a crucial step towards gaining approval for the Fidelity Solana Fund. This filing signals the growing acceptance of cryptocurrencies in traditional finance. Fidelity has also registered a Solana trust with the CSC Delaware Trust Company, further solidifying its commitment to this venture.

The push for Solana ETFs is not isolated. Other firms, including Canary Capital, Franklin Templeton, Grayscale, and VanEck, are also in the race to gain SEC approval for their spot Solana ETFs. A spot ETF is an exchange-traded fund that directly tracks the price of the underlying asset, in this case, Solana. This trend reflects a broader industry shift towards embracing altcoins like Solana, which has seen significant growth and interest in recent years.

Fidelity’s ambitions extend beyond Solana. The company has also applied for SEC approval of a blockchain-based fund tracking its money market fund, the Fidelity Treasury Digital Fund. This move underscores Fidelity’s broader strategy to leverage blockchain technology across various financial products, aligning with the ethos of decentralization and disruption.

Adding to the momentum, Volatility Shares launched the Volatility Shares Solana ETF (SOLZ) and Volatility Shares 2X Solana ETF (SOLT) on March 20, 2025. These Solana futures ETFs have been closely monitored to gauge potential demand for spot Solana ETFs. The performance of these ETFs, with an expense ratio of 0.95% for the first year, suggests a growing interest in Solana-based financial products. An expense ratio is a fee charged by the ETF provider, in this case, 0.95% of the fund’s assets annually.

The regulatory environment has become more favorable for crypto-related financial products, particularly since the start of Donald Trump’s second term in January 2025. Analysts at Bloomberg Intelligence estimate a 70% chance of SEC approval for a spot Solana ETF in 2025, reflecting strong market expectations. JPMorgan estimates suggest that Solana ETFs could attract over US$6 billion in inflows, driven by growing investor interest. VanEck analysts even predict that Solana (SOL) could reach US$520 by 2026 if the SEC approves the Solana ETF, showcasing optimism about the cryptocurrency’s future performance. But let’s not forget the absurdity of some price predictions; we’re not in the business of shilling here.

While the potential for Solana ETFs is exciting, it’s crucial to acknowledge the risks and volatility associated with cryptocurrencies. Investors must be well-informed about the complexities of these financial products to make sound investment decisions. The race to launch Solana ETFs is part of a larger trend towards altcoin ETFs, with other cryptocurrencies like Sui Network (SUI) also seeing ETF applications. Remember, in the world of crypto, the only constant is change.

Altcoins like Solana play a unique role in the broader crypto ecosystem, filling niches that Bitcoin itself does not serve. While Bitcoin remains the king of cryptocurrencies, the emergence of Solana ETFs highlights the growing diversity and utility of blockchain technologies. This move by Fidelity is a bold step towards decentralizing traditional investment vehicles, aligning with the principles of effective accelerationism.

The integration of digital assets into traditional investment vehicles like ETFs represents a significant step forward for the crypto industry. However, the journey is not without its challenges, and regulatory hurdles remain a key consideration for these ambitious projects. As we continue to watch the developments of Solana ETFs, one thing is clear: the future of finance is decentralized, and we’re just getting started.

Key Takeaways and Questions

• What is the significance of Cboe BZX’s 19b-4 filing for Fidelity’s Solana ETF?

  The filing is a crucial step towards gaining SEC approval to list and trade shares of the Fidelity Solana Fund, adding to the growing list of altcoin-related ETF applications.

• Which other firms are seeking approval for spot Solana ETFs?

  Other firms include Canary Capital, Franklin Templeton, Grayscale, and VanEck.

• What recent developments indicate potential demand for Solana ETFs?

  The launch of the Volatility Shares Solana ETF and Volatility Shares 2X Solana ETF on March 20, 2025, with notable trading volume, suggests potential demand for Solana-based financial products.

• What additional ETF is Fidelity seeking approval for?

  Fidelity is also seeking SEC approval for a blockchain-based fund tracking its money market fund, the Fidelity Treasury Digital Fund.

• How does the performance of Solana futures ETFs relate to the potential success of spot Solana ETFs?

  The performance of Solana futures ETFs is being monitored to gauge potential demand and interest, which could influence the success of spot Solana ETFs.

• What are the potential risks and rewards of investing in Solana ETFs?

  While Solana ETFs offer exciting potential rewards, investors must be aware of the risks and volatility associated with cryptocurrencies, requiring a well-informed approach to investment decisions.

• How do altcoins like Solana contribute to the broader crypto ecosystem?

  Altcoins like Solana fill niches that Bitcoin does not serve, enhancing the diversity and utility of blockchain technologies and promoting decentralization.