The landscape for Solana investment products is rapidly expanding, with 21Shares becoming the latest firm to launch a Solana exchange-traded fund (ETF). After finalizing its filing with the U.S. Securities and Exchange Commission (SEC), the fund is now cleared for trading. It enters the market with a management fee of 0.21%, positioning it as the most cost-effective option among the current six Solana ETFs.

The Cboe exchange approved the listing and registration, marking the final regulatory step for the fund’s market debut. This launch follows 21Shares’ recent introduction of two other crypto index ETFs that provide exposure to a basket of digital assets, including Bitcoin, Ethereum, Solana, and Dogecoin.

Fidelity Launches FSOL on NYSE Arca

Fidelity Investments, one of the largest asset managers in the space, has also entered the competition with its own Solana ETF, trading under the ticker FSOL on the NYSE Arca. The fund, which began trading this week, carries a 0.25% management fee and an additional 15% charge on staking rewards. FSOL offers investors direct exposure to Solana’s price movements while generating yield from staking, all within a regulated framework emphasizing institutional-grade custody and compliance.

While Fidelity hasn’t disclosed the fund’s initial assets, early trading volume suggests solid interest from both retail and institutional investors. Full weekly inflow data has not yet been reported.

Canary Capital Adds SOLC Fund on Nasdaq

Adding to the growing list of options, Canary Capital has launched its SOLC ETF on the Nasdaq. The fund has established a two-year exclusive partnership with Marinade Finance to handle its staking operations. Canary Capital’s strategy is to stake all of its SOL holdings under normal market conditions, allowing staking rewards to enhance overall returns for investors.

Notably, the SOLC fund doesn’t charge separate fees for staking, instead opting for a single management fee model. This approach is designed to attract investors looking for a straightforward, cost-conscious way to gain exposure to Solana and its staking ecosystem.

A Competitive Market for Solana Exposure

The recent launches highlight intense competition among asset managers to capture investor interest in Solana. Each new fund offers a slightly different model for fees and staking. For instance, VanEck’s VSOL, which launched on November 17 with $7.32 million in assets, is waiving its management fee until it reaches $1 billion in assets under management.

Investor appetite for these products remains strong, even amid market volatility. On November 18, Solana ETFs collectively saw inflows of $26.2 million, marking a fifteenth consecutive day of positive flows. Bitwise’s BSOL led the pack with $23 million in a single day. This trend continued even as Bitcoin and Ethereum ETFs recorded outflows and Solana’s price declined over 10% in the past week, suggesting a dedicated investor base for SOL-based products.

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