Fidelity is moving closer to launching its Solana Fund, marking a milestone in institutional crypto adoption. The asset manager filed Amendment No. 4 to its Form S-1 registration on October 29, 2025, with the U.S. Securities and Exchange Commission (SEC). Once approved, the Fidelity Solana Fund (FSOL) will trade on NYSE Arca and offer exposure to Solana’s native token, SOL, while also generating staking rewards. Fidelity’s Solana Fund Targets Staking-Enhanced Exposure The Fidelity Solana Fund seeks to track Solana’s performance through the Fidelity Solana Reference Rate, adjusted for operational costs and staking yields. The product’s structure enables the fund to outperform the index by capturing rewards from validator staking. According to the filing , custodians such as Anchorage Digital Bank, Coinbase Custody, and BitGo Trust will hold the underlying assets. Additionally, the fund reserves flexibility to stake up to 100% of its SOL holdings through node operators. Besides providing direct exposure to Solana, Fidelity’s inclusion of staking returns underscores a broader shift toward yield-generating crypto investment products. Significantly, this design differentiates the fund from earlier Bitcoin and Ethereum ETFs, which do not offer staking benefits. Fidelity’s move follows recent developments from Bitwise and Grayscale, both of which launched Solana-linked ETFs earlier this week. Bitwise’s BSOL fund reportedly attracted nearly $69.5 million in inflows within its first trading day, reflecting growing institutional interest in Solana’s ecosystem. Analysts Split on Solana’s Technical Outlook Meanwhile, Solana’s market performance has drawn mixed reactions from analysts. As of press time, Solana was trading near $186 with a 6.91% decline. TedPillows noted that Solana’s treasury-linked companies have shown weaker accumulation compared to their Ethereum counterparts, which has limited buying pressure. He emphasized that the lack of strong bids has left SOL vulnerable, particularly after losing the $200 support level. Source: X However, CryptoJelleNL presented a more optimistic scenario. He observed that Solana had quietly reaffirmed $200 as a strong support zone, highlighting the formation of a cup-and-handle pattern. According to him, if momentum continues and price sustains above $230, targets around $295 to $400 could emerge. Moreover, the analyst pointed out that the alignment of 50- and 200-day moving averages supports the bullish case.
