Fidelity Continues to Pursue Approval for Solana Spot ETF

Fidelity, the investment management company, has officially submitted an S-1 proposal related to the Solana (SOL) Spot Exchange Traded Fund (ETF) as competitors have done. This ETF will also include staking options for its users.

This initiative reflects the performance of Solana and the potential of Solana to be used as a portfolio diversification option. Additionally, this submission is made to keep the crypto asset under the supervision of the Securities and Exchange Commission (SEC).

As information, the SEC has also postponed the decision regarding the Solana ETF proposal submitted by Grayscale earlier this month. Therefore, this could hinder the growth of Solana, especially since ETFs provide exposure to the crypto asset.