🔥Fidelity Accelerates the Race for the First Spot ETF of #solana
In a crucial move, Fidelity formally submitted its S-1 document to the SEC today to create a spot ETF for Solana (SOL), becoming the latest financial giant to join the race. Its proposal includes a key innovation: "staking" part of the funds to generate additional passive income for investors, through audited providers.
This step comes after the SEC urged issuers to update their applications before June. Seven firms (including VanEck, 21Shares, and Grayscale) submitted amendments on the same day, indicating a coordinated regulatory push.
Analysts like Eric Balchunas (Bloomberg) see this as a positive sign, estimating a potential approval in 2 to 4 months. If approved, it would be the first spot ETF for Solana in the U.S., democratizing access to this high-performing cryptocurrency under Wall Street's supervision, replicating the success of Bitcoin and Ethereum ETFs.
