Key Notes
- Fidelity is getting set to roll out its spot Solana ETF amid high expectations.
- ETF expert James Seyffart stated that Canary Capital will follow the next day.
- BlackRock has not attempted to file for a spot Solana ETF.
Fidelity is preparing to debut its spot Solana Exchange Traded Fund (ETF) following VanEck, which rolled out a similar fund on November 17.
The Solana ETF competition is heating up gradually as two other asset management firms have also launched their SOL ETF a few weeks earlier.
Overall, there is still a conversation on whether BlackRock will join this race for altcoin ETFs.
BlackRock Refuses to Join Solana ETF Race
Fidelity is expected to launch its spot Solana ETF on November 18, coming fourth after VanEck. According to senior Bloomberg ETF analyst Eric Balchunas, the asset manager has pegged the management fee for the fund at 0.25%.
It is worth noting that reputable firm BlackRock has not filed any application for a Solana ETF or any other altcoin ETF , for that matter.
On this basis, Balchunas said Fidelity has a great chance to be the biggest asset manager in this ETF category.
His colleague, James Seyffart, noted that Canary Capital is also set to launch its Solana ETF, under the ticker SOLC.
ALSO. @CanaryFunds will be launching their Solana ETF — $SOLC — tomorrow too. It’s in partnership with @MarinadeFinance who will be doing the staking. https://t.co/DKsDY3xymg
— James Seyffart (@JSeyff) November 18, 2025
The fund, which is scheduled to roll out on November 19, is a collaborative effort with Marinade Finance. This latter firm will be charged with the staking aspect of the fund.
With Fidelity in the “game” and the traction that this fund is beginning to get, it’s still not clear if BlackRock will make a move towards the SOL ETF.
Bitwise and VanEck Launch Solana ETFs
On October 28, Bitwise’s BSOL became the first US spot Solana ETP as it commenced trading on the New York Stock Exchange (NYSE) market.
Many market observers and analysts described the debut as a historic milestone for regulated crypto access. Grayscale’s SOL ETF followed the next day. So far, Bitwise’s BSOL has secured $450 million in trading volume.
On November 17, VanEck rolled out a Solana Staking ETF for trading on Chicago’s CBOE with zero fees, even though it was the first issuer to apply to list this fund in June 2024.
All fees will remain waived until February 2026, after which investors will be required to pay the 0.30% sponsor fees.
