21Shares advanced its plan to introduce a Solana exchange-traded fund after submitting a final prospectus to the US Securities and Exchange Commission. The filing positions the fund for near-term trading and places the issuer among a fast-growing group offering regulated access to SOL. The fund will carry a management fee of 0.21%.
The SEC website reflected that Cboe approved the listing and registration of the product shortly after the filing went live. The approval allows trading to begin without further delay. The development follows the company’s release of two crypto index funds last week, which opened new avenues for regulated exposure to Bitcoin, Ethereum, Solana, and Dogecoin.
New Entrants Expand the Competitive Field
Fidelity Investments added momentum to the sector as it launched the Fidelity Solana Fund on NYSE Arca under the ticker FSOL. The product features a 0.25% management fee along with a 15% charge on staking rewards. The entry brings one of the largest asset managers into the Solana ETF market.
Canary Capital also entered the field through its Canary Marinade Solana ETF on Nasdaq. The firm partnered with Marinade Finance as its staking provider for an initial two-year period. The fund intends to stake all its SOL holdings under regular market conditions, which distinguishes its approach from other issuers.
Inflows Strengthen Despite Token Weakness
Investor demand for SOL funds stayed firm even as the token’s price slipped more than ten percent over the week. Solana ETFs recorded net inflows of $26.2 million on November 18. Bitwise led the movement with $23 million in inflows and extended a 15-day streak of positive activity.
With Fidelity and Canary Capital beginning trading, the US market now hosts five active Solana ETFs. The expected launch from 21Shares will raise the total to six and broaden investor options. The variety of fee models and staking strategies underscores growing competition among issuers.
VanEck joined the sector with the debut of its VSOL fund on November 17. The firm started the product with seven point three two million dollars in assets and selected SOL Strategies as its staking partner. VanEck introduced a no-fee structure until the fund reaches one billion dollars in assets.