Cboe has officially filed a 19b-4 form on behalf of mutual fund giant Fidelity to launch a Solana (SOL) exchange-traded fund (ETF) in the U.S.
Fidelity, which boasts $4.9 billion in assets under management, is, of course, the largest player to enter the Solana ETF race to date.
Godfrey BenjaminThe filing did not come as a surprise to market participants. Last week, a statutory trust registration filing was submitted in Delaware. It was obvious that this would be followed by an actual ETF filing. This would mirror Fidelity's moves with its existing cryptocurrency products.
The fact that this development has been mostly priced in by the market explains why Solana (SOL) has failed to rally in response to the filing. The token added only a minuscule 1% in response to the announcement.
As reported by U.Today, investment behemoth Franklin Templeton filed to launch a Solana ETF in late February.
Polymarket bettors currently see an 85% chance of a SOL ETF being approved this year.
Vladislav Sopov
Dan Burgin