Fidelity subscription Solana Fund, implying the possibility of establishing an ETF

CSC Delaware Trust Company, a subsidiary of CSC – a group specializing in business formation, has registered a new entity named "Fidelity Solana Fund," according to records released on Thursday.

This subscription may be the first step in the plan to launch a trading exchange product (ETP) based on Solana by Fidelity. Fidelity is currently managing the Fidelity Wise Origin Bitcoin Fund (FBTC), the second largest spot Bitcoin ETF in the world with approximately 16.5 billion USD in assets under management (AUM), just behind BlackRock's iShares Bitcoin Trust with 48 billion USD AUM.

Earlier, several asset managers such as VanEck, 21Shares, Bitwise, and Canary Capital had filed for approval of a Solana ETF but were all rejected by the SEC. "The SEC has almost not acknowledged the recent Solana ETF filings," according to Bloomberg analyst James Seyffart.

Meanwhile, BlackRock remains silent about the possibility of launching a Solana ETF. Rachel Aguirre, the iShares product director in the US for BlackRock, recently declined to provide details about the company's plans regarding the Solana fund in an interview.

Next week, Volatility Shares will launch two Solana futures ETFs, including the Volatility Shares Solana ETF ( code SOLZ), providing access to Solana futures, and the Volatility Shares 2X Solana ( code SOLT), a 2x leveraged fund.

"We are the first entity to file for these ETFs, which allows us to launch ahead," said Justin Young, co-founder and CEO of Volatility Shares.

Recently, Franklin Templeton has become the largest asset manager to propose a Solana ETF, while also mentioning the incorporation of staking rewards into the fund's income in the subscription filing.

See the price of SOL here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.

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Thạch Sanh

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