The SEC Has Officially Acknowledged Fidelity’s filing For A Spot Solana ETF

SEC Provides Acknowledgement For Fidelity’s Solana ETF

The US Securities and Exchange Commission has officially acknowledged the Solana spot ETF application put forward by Fidelity, a multinational financial services company. If the speculations and rumours circulating through the crypto market are to be believed, Fidelity’s ETF will likely be traded on the Cboe BZX Exchange—if everything goes according to plan.

The proposed Fidelity ETF plans to hold physical SOL tokens and stake a small portion of them through various trusted providers. The information from the following claims that Solana’s specific market structure, combined with a surveillance-sharing agreement put forward by Fidelity, can prevent it from large-scale manipulation.

Fidelity’s Solana ETF & Why It Matters

Fidelity’s quest for a Solana ETF commenced by the end of March 2025. However, this is not the first time that Fidelity is about to dip its fingers into the crypto sector. In fact, they were slowly immersing themselves into the blockchain world as it gradually gained recognition and interest worldwide. And the Solana ETF is just a stepping stone for them. 

But, when considering the broader market aspects, this ETF could potentially bring huge changes to the crypto sector if approved. One of the main reasons behind this is that the current ETF markets are primarily focused on Bitcoin, meaning that a Solana ETF could open doorways for other cryptocurrencies, bringing forth more diversified crypto ETF investment options.

As the Solana chain is well-known for its speed and low costs, it also has the potential to attract investors who are interested in technological advancements within the crypto space. It could mean millions of dollars as inflows in the initial phase itself if you consider the rate at which the crypto market is blooming.

What’s Next For The Fidelity Solana ETF

Gaining the acknowledgement was one of the crucial steps for establishing an ETF, and now that it is over, Fidelity is gearing up to face the next hurdle. This includes the approval phase. In this phase, the SEC (Securities and Exchange Commission) will actively cross-check the SEC ETF filing for major risks and other security failures, and if they find any, it’s going to create a huge dent for the well-known investment corporation.

After this, they will conduct a thorough analysis of the underlying asset, which in this case is Solana, and the potential risks it poses to the investors. If the ETF passes this phase, the next step is the review section, where stakeholders and the public can voice their opinions on it. In the end, the SEC will then conduct a vote on whether to approve or disapprove the Solana ETF based on the study conducted on it. 

Is Fidelity Investments Credible & Trustworthy 

Yes, Fidelity Investments is generally considered a very credible and trustworthy financial institution, and with valid reason also. Here are some of them that can help you know exactly what you will get with the Fidelity cooperations’ ETF.

• Reputation & History: Fidelity Investments was established in 1946. Throughout the years, the company has climbed its way to become one of the top investment firms in data through its consistent performance, gaining a strong reputation and trustworthiness among its clients.
• Security & Regulations: Fidelity is a registered investment advisor and broker-dealer and is subject to regulations and oversight by the US SEC, ensuring that it operates within a framework designed to protect investors.
• Low Costs & Fees: Fidelity Investments is well-known for its low costs and fees and is a driving factor behind its popularity among clients.
• SIPC Coverage: Fidelity is a member of the Securities Investor Protection Cooperation (SIPC), providing insurance coverages for customer assets in case of a failure from the brokerage firm.
• Data Security: Fidelity has implemented robust security measures, including ISO 27001 certification, demonstrating their utmost conviction to protecting their customer details.

Solana Coin Market Performance & Future Outlook

Solana is one of the coins with the most potential in the market. As of 4th April 2025, the coin is ranked #7 on its market capitalization, estimated to be $59.96 billion with a circulating supply of 514.45 million tokens. Following the Fidelity ETF news, Solana’s bearish trend in the market, due to the tariff implementation, has somewhat slowed down to a crawl.

Now, the SOL tokens are trading at $116.55 a piece, registering a downtrend of over 2% from the previous day. Per various market analysts and technical indicators, the coin is expected to reach a high of $290 by the end of this year. This is calculated excluding the growing interest surrounding the crypto market and its increased adoption. 

If the Fidelity ETF gets approved in the future and the market adoption skyrockets, the coin could continue to grow in the coming years at an exponential rate. This could push the tokens over the $500 mark by the end of 2029 or possibly at the end of 2028. For further updates and insights into the matter, stay tuned.