Fidelity is launching its Spot Solana ETF ($FSOL) on Wednesday, November 19th. The fund will charge a fee of 25 basis points.
According to Bloomberg analyst Eric Balchunas, Fidelity is now the largest asset manager in the Solana ETF category. BlackRock has yet to enter the market. Other Solana ETFs already active include $BSOL, which launched first and holds $450 million, and $VSOL, which began trading today. Grayscale also remains a participant in the space.
In addition, Canary Funds will launch its Solana ETF, $SOLC, on Wednesday, 19th. The fund is partnering with Marinade Finance, which will handle staking for the ETF.
What Do These Mean for the Market?
Balchunas noted that ETFs have been buying Solana through the recent market dip. He highlighted daily flows of about $7 billion and described the pullback as small compared with previous events, such as the Tariff Tantrum. He also pointed out that investors set records in Q1 of this year.
The Solana ETF activity coincides with shifts in broader ETF flows. Balchunas mentioned an uptick in flows toward treasuries, alongside equities. Previously, gold had seen inflows during periods of market stress.
Bitcoin ETFs have also seen some outflows. Around $250 million left recently, with $3 billion withdrawn over the past month. This represents roughly 2.5% of total assets. Despite these outflows, 97.5% of total Bitcoin ETF assets remain invested, and $23 billion has been held year-to-date.
Balchunas said the market has managed the recent sell-off well. He emphasized that investors should remember the heavy buying over the last 18 months. Overall, ETF flows indicate that Solana and Bitcoin funds continue to attract institutional and retail interest, even amid short-term volatility.
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The post Fidelity Spot Solana ETF FSOL Launches November 19th appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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