Fidelity Eyes Solana ETF with Staking Feature

Fidelity Investments has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot Solana exchange-traded fund (ETF) that incorporates staking. This move positions Fidelity among several major asset managers aiming to offer regulated investment products tied to Solana (SOL). The proposed ETF would allow investors to gain exposure to Solana’s price movements and earn additional returns through staking rewards. This feature sets it apart from existing crypto ETFs, which typically do not include staking due to regulatory uncertainties. Fidelity’s filing follows similar applications from firms like Bitwise and Canary, which have also updated their ETF proposals to include staking functionalities. These developments come amid a shift in the SEC’s approach under new leadership, suggesting a more open stance toward crypto-related financial products.

Source: Coinpaprika