- Fidelity updates its Solana spot ETF filing, removing the delaying amendment to enable automatic effectiveness without SEC timing control.
- The move signals growing institutional readiness for altcoin ETFs and could accelerate regulatory acceptance for broader crypto assets.
Fidelity has updated its Solana spot ETF registration documents by removing the “delaying amendment” clause.
This move allows the registration to take effect automatically within a specified timeframe, without the need for explicit green light from the SEC. This is certainly a departure from the usual situation, where the timing is entirely in the hands of regulatory authorities.
This change opens the opportunity for the Solana ETF to move more quickly toward launch, depending on the SEC’s continued response. While there is no indication of approval yet, this strategy demonstrates Fidelity’s desire to minimize the time friction that typically occurs with regulators.
Fidelity’s Move Marks a Deeper Institutional Bet on Solana
In an industry context, removing the delaying amendment is not simply a routine administrative action—it could signal Fidelity’s confidence in the proposed ETF structure.
This moment also didn’t come by accident. Several months ago, in March, Fidelity officially registered the Solana Fund in Delaware. This was seen as a long-term commitment to Solana, which has so far been overshadowed by Ethereum and Bitcoin.
By expediting the ETF process, Fidelity appears to want to send a message that Solana is not just a side project, but is beginning to be recognized institutionally.
Momentum Builds as Blockchain Investment Products Gain Credibility
If we look back, Fidelity also previously filed for another blockchain-based product, a tokenized USD fund on the Ethereum network.
CNF reported that this move signals that blockchain-based investment products are gaining ground in the portfolios of large financial institutions. If the product is successfully approved, it’s possible that a new wave of other tokenized investment products will emerge, including those in the Ethereum ecosystem and alternative networks like Solana.
However, the document submission alone is certainly not enough to guarantee that this ETF will actually trade in the near future. The subsequent process still requires filing for changes to exchange rules (via a 19b-4 document), and there could be quite technical steps or even legal challenges.
Nevertheless, the removal of this delay clause still provides a time advantage, as it opens up the possibility of automatic effectiveness after a certain waiting period has elapsed.
Furthermore, the launch of a Solana-based ETF could serve as a market experiment to see whether institutional investors are willing to invest in altcoins beyond the two major crypto names.
This is because institutional adoption has tended to be heavy on Bitcoin and Ethereum, while other layer-1 projects like Solana haven’t yet received a clear regulatory path. Fidelity, with this strategy, appears to be trying to bridge this gap.
Technically, there’s no guarantee that any non-Bitcoin crypto ETF will be an immediate success. But when a player like Fidelity issues such an aggressive update, the market starts to pay extra attention.
