- Fidelity and Canary Capital to debut Solana ETFs on Tuesday.
- The launches come just as US regulatory agencies unclog approval pipeline.
- VanEck’s Solana ETF launched on Monday.
Solana’s exchange-traded fund season is in full swing and analysts are bullish that it can trigger a rally for the sixth biggest cryptocurrency in the world.
The prediction comes as Fidelity, the $7 trillion asset manager, is set to launch its spot Solana ETF under ticker FSOL on Tuesday, marking one of the top institutional endorsements in altcoins, analysts say.
The vote of confidence in Solana, combined with the general crypto market recovering from its current $1.2 trillion sell-off, could catapult the price by up to 16% this month, according to Ryan Lee, chief analyst at Bitget.
“We could see a recovery toward the $156–$160 range by late November, especially as its ecosystem continues expanding in DeFi, consumer apps, and memecoin volume,” Lee told DL News.
Solana’s price is down 27% over the past month to trade at $137.
‘Shift in perception’
Fidelity’s spot Solana ETF launch lands at a pivotal time for digital assets on Wall Street. Financial giants have muscled into the crypto like never before in 2025, incentivised by the light-touch regulations promised by the White House.
The third biggest investment manager in the world swooping in to launch a spot Solana ETF underscores the dramatic shift from how Wall Street used to shun the industry in the past.
“Welcome to the future,” Nate Geraci, co-founder of the ETF Institute, said on X.
The launch also comes as US regulatory agencies are reopening after a record 43-day shutdown that froze key decisions, and ETF issuers are rushing back into the pipeline.
It’s not just Fidelity jumping on Solana. Canary Capital is also scheduled to launch its SOLC fund in partnership with Marinade Finance, adding Solana’s staking capabilities straight out of the gate.
Last week, Canary’s XRP ETF stunned even veteran market watchers with nearly $250 million in first-day inflows, setting a new record for 2025.
And now Solana is stepping into the same slipstream, analysts say.
“For the first time, institutional investors are being invited to consider Solana as a standalone macro asset,” Maria Carola, CEO of crypto exchange StealthEx, told DL News. “This represents a significant shift in perception.”
“Every bullish cycle needs a new protagonist, and today, Solana looks like the most likely contender,” Carola said.
BlackRock sits out
Fidelity launching a Solana ETF also highlights the absence of one of the key players in previous crypto ETF launches: BlackRock.
While the $12.5 trillion asset manager dominates the US Bitcoin and Ethereum ETF market, it has so far not made any public moves to launch a spot Solana ETF. And that’s potentially an opportunity for Fidelity, Eric Balchunas, senior ETF analyst for Bloomberg Intelligence, said.
“Easily the biggest asset manager in this category with BlackRock sitting out,” Balchunas said on X. “[Bitwise] got out first, has $450m, [VanEck] launched today, Grayscale is in [the] mix. Game on.”
Grayscale executive Zach Pandl told DL News in October that Solana ETFs could see $5 billion in investment.
To be sure, previous Solana ETF releases have not been blockbuster hits. In October, Grayscale’s GSOL saw just $4 million in inflows on its first day while Bitwise’s BSOL fared better, at $129 million.
Like Grayscale’s Bitcoin and Ethereum ETFs, GSOL began as a trust, meaning it was initially a closed investment vehicle. Grayscale converted the trust into an ETF structure in October, which enables investors to trade it easily.
Solana is trading at $137 at time of reporting, down over 50% from its all time high set in January 2025 during the memecoin peak.
Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? lance@dlnews.com.
