Solana ETF Competition Heats Up as Fidelity and VanEck Arrive on the Scene

Key Takeaways

• VanEck launched the 3rd spot Solana exchange-traded money successful the U.S. connected Monday, Nov. 17.

• New offerings from Fidelity and Canary Funds volition go the 4th and 5th connected Tuesday.

• For now, BlackRock has nary plans to participate the tract with its ain Solana product.

Three weeks aft Bitwise and Grayscale launched the archetypal spot Solana exchange-traded funds (ETFs) successful the U.S., contention successful the abstraction is heating up.

On Monday, Nov. 17, VanEck debuted VSOL connected the Nasdaq.

Not acold behind, heavyweight plus manager Fidelity and crypto incumbent Canary are gearing up to motorboat their ain Solana funds erstwhile markets unfastened connected Tuesday.

In their archetypal 3 weeks of trading, Solana ETFs from Bitwise and Grayscale attracted a cumulative nett inflow of implicit $390 million, according to SoSoValue.

Amid a devastating carnivore market, BSOL and GSOL presented a uncommon show of capitalist assurance during a play erstwhile billions of dollars were pulled from Bitcoin and Ethereum funds.

The 3rd U.S.-listed Solana ETF to deed the marketplace was VanEck’s offering. And conscionable arsenic VSOL made its debut connected Monday, 2 much funds were approved for listing.

According to Bloomberg expert Eric Balchunas, Fidelity’s caller ETF is slated to motorboat connected Tuesday.

His workfellow James Seyffart reported that Canary volition besides debut its Solana money the aforesaid day.

Compared to the full addressable market, the fewer 100 cardinal dollars invested successful Solana ETFs truthful acold is negligible.

Moreover, past suggests that ETFs offered by fiscal powerhouses tin beryllium successful a antithetic people to those from smaller, boutique managers.

After BlackRock and Vanguard, Fidelity is the largest plus manager successful the world, with astir $15 trillion successful assets nether management.

Its spot Bitcoin ETF is the second-largest connected the marketplace aft BlackRock’s.

Crucially, BlackRock doesn’t look to person immoderate contiguous ambitions successful the burgeoning Solana ETF market.

For now, astatine least, the steadfast is much focused connected diversifying its sum of blue-chip integer assets with a caller Bitcoin money that incorporates strategies to maximize yield.

With ETF elephantine Vanguard having ruled retired creating immoderate crypto offerings of its own, that leaves Fidelity arsenic the biggest subordinate successful the space, placing the steadfast successful a beardown presumption to thigh up organization request for SOL exposure.

The station Solana ETF Competition Heats Up arsenic Fidelity and VanEck Arrive connected the Scene appeared archetypal connected ccn.com.