Fidelity Joins Solana ETF Rush After Bitwise’s BSOL Goes Live

TLDR:

• Fidelity removes its delaying amendment, paving the way for its Solana ETF to go auto-effective soon.
• The move mirrors Bitwise’s $BSOL ETF launch, which used the same 20-day auto-effective path.
• VanEck and Canary Funds updated their Solana ETF filings, likely targeting mid-November launches.
• SEC Chair Paul Atkins supports companies using the 20-day rule to move forward during shutdowns.

The Solana ETF race is heating up. Just a day after Bitwise launched its BSOL fund, Fidelity Digital Assets updated its S-1 filing for its own Solana ETF. 

The update removes a delaying amendment that usually lets the Securities and Exchange Commission decide when a registration becomes effective. This change means Fidelity’s ETF could go live automatically after the 20-day statutory window.

Crypto journalist Eleanor Terrett shared the filing update on X, explaining that Fidelity followed the same approach Bitwise used earlier this week. Her report aligns with growing market expectations that other issuers would jump on this faster route.

The method allows ETFs to take effect automatically if the SEC does not act within 20 days, giving issuers more control over timing. The approach first gained traction when Bitwise launched its Solana ETF using the same structure.

VanEck and Canary Join the Solana ETF Queue

Fidelity’s update is not an isolated move. Terrett noted that both VanEck and Canary Funds have also adjusted their Solana ETF filings in recent days. Each removed delaying amendments, setting up their products for mid-November launches, if the listing exchanges approve their 8-A forms on schedule.

These filings show clear momentum behind Solana-based exchange-traded products. As the process accelerates, several issuers appear to be lining up for near-term debuts.

The trend began when Bitwise’s BSOL ETF became the first to use this route, signaling that issuers were ready to bypass delays caused by the ongoing SEC backlog. The new wave of filings suggests a coordinated industry shift toward self-timed registrations.

Regulators Acknowledge the New Filing Trend

While the SEC has not issued direct comments on these ETF launches, its leadership seems aware of the growing trend. Terrett mentioned that SEC Chair Paul Atkins recently welcomed companies using the 20-day waiting rule during the current government shutdown.

His remarks came after MapLight completed a public listing using the same legal mechanism. That statement reinforced the legitimacy of this auto-effective process, giving issuers like Bitwise, Fidelity, and VanEck confidence to move forward.

The next few weeks may mark a decisive period for Solana-based funds. If approvals hold, investors could see multiple SOL ETFs trading before the year ends. This further expands institutional access to one of crypto’s fastest-growing ecosystems.