Fidelity Digital Assets is now the latest major issuer to accelerate progress toward launching a Solana ETF. As highlighted by crypto journalist Eleanor Terrett, the asset manager has filed an updated S-1 registration statement for the Fidelity Solana Fund – notably removing the delaying amendment that typically gives the U.S. Securities and Exchange Commission (SEC) full control over launch timing.
By stripping out that amendment, Fidelity is now positioned to allow the registration to automatically become effective after the statutory 20-day window, assuming no SEC objections. This follows the exact same legal approach used by Bitwise earlier this week to launch BSOL, the first U.S. Solana ETF with direct staking exposure.
Terrett noted in her post that multiple issuers have begun moving in the same direction. In the past 48 hours alone, Canary Funds and VanEck updated their Solana ETF filings to use this fast-track method as well. If listing exchanges sign off on parallel 8-A filings, the batch of new SOL ETFs could reportedly debut by mid-November.
🚨NEW: @Fidelity @DigitalAssets has just filed an updated S-1 for its $SOL ETF, removing the “delaying amendment” that prevents a registration from going auto-effective and gives the @SECGov control over timing, following the lead of @BitwiseInvest, which launched its $BSOL ETF… pic.twitter.com/frb9PIkNYU
— Eleanor Terrett (@EleanorTerrett) October 29, 2025
What makes this trend unusual is how openly supportive key regulators appear. SEC Chair Paul Atkins recently praised companies leveraging the 20-day rule during government shutdown conditions, specifically referencing the same legal framework enabling this new wave of crypto ETFs – including SOL, HBAR, and LTC products launched this week.
A Breakthrough Moment for Solana?
Solana’s ETF progress has been rapid compared to earlier crypto products. While Bitcoin and Ethereum took years of regulatory back-and-forth to reach mainstream market approval, institutional Solana access appears to be forming much faster – and with much stronger staking-integration features.
With Fidelity now joining Bitwise, Canary, and VanEck, competition is heating up for the next major crypto investment product expected to attract Wall Street demand. Volume and liquidity breakthroughs across Solana DeFi have already signaled growing institutional engagement – a process these ETFs are designed to accelerate.
If timelines hold, mid-November could mark another milestone for Solana’s journey into U.S. capital markets – one that further cements SOL’s place alongside Bitcoin and Ethereum as a long-term institutional asset class.
Read also: Why Solana Can’t Stop Talking About XRP – Analyst Calls Out “Punching Up” Behavior
XRP Community Reacts: “Why Isn’t Ripple Doing This?”
The Solana ETF momentum has sparked frustration within the XRP community. Under Eleanor Terrett’s post, one user responded:
“Why is Ripple not doing this? Questions need to be answered.”
This means growing concern that Solana is rapidly securing institutional access while XRP ETFs remain stuck despite pending filings from Bitwise and Grayscale. With multiple analysts calling XRP “undervalued” compared to its market maturity, holders are increasingly vocal about Ripple’s need to push harder on public-market expansion.
For now, XRP continues waiting on clearer SEC positioning – while Solana accelerates ahead.
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