Crypto Chaos: Fidelity’s Wild Ride to List Solana ETF!

Good heavens, it seems the cat’s out of the bag! The U.S. Securities and Exchange Commission (SEC) has formally acknowledged the filing for Fidelity’s spot Solana (SOL) Exchange-Traded Fund (ETF). One wonders what took them so long, but I suppose better late than never, eh? 🙄

This is a jolly good development, old chap! Fidelity’s seeking to list its Solana ETF on the Cboe BZX Exchange, and it seems they’ve submitted a proposed rule change to make it all happen. The acknowledgment comes after Fidelity submitted the proposal, which was later amended to clarify a few points and add some extra details. One can only imagine the excitement in the boardroom! 😂

Fidelity’s Spot Solana ETF Proposal: A Wild Ride

The SEC’s acknowledgment follows Fidelity’s filing to list and trade shares of the Fidelity Solana Fund under the Cboe BZX Exchange. The proposed rule change, initially submitted on March 25, was later amended on April 1, 2025, to clarify certain points and add additional details. One can only assume it was a thrilling meeting, full of lively discussion and perhaps a few raised eyebrows! 🤔

The amended proposal aims to list the Solana ETF under BZX Rule, which pertains to commodity-based trust shares. According to the Cboe BZX Exchange, Fidelity plans to register the shares with the SEC through a registration statement on Form S-1. Oh, the paperwork! 📝

Fidelity’s experience with crypto ETFs, having launched the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH), has prepared it for this new initiative. FBTC has drawn substantial interest, accumulating nearly $17 billion in assets, while FETH currently manages around $975 million. One can only imagine the champagne corks popping in the Fidelity offices! 🥂

This Is A Developing News, Please Check Back For More

2025-04-03 21:20

Fidelity’s Spot Solana ETF Proposal: A Wild Ride

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