Fidelity Files Amended S-1 for Solana ETF as Bitwise CEO Signals Confidence in XRP ETF Prospects
Fidelity has filed an amended S-1 registration statement with the U.S. Securities and platform Commission (SEC) for its proposed spot Solana (SOL) platform-traded fund (ETF), signaling renewed momentum toward approval. The updated filing removes the “delaying amendment,” a procedural clause that typically prevents automatic effectiveness. This change suggests that Fidelity may be positioning the fund for a potential green light from regulators in the near future. The amendment also names Fidelity Product Services as the index provider, underscoring the company’s readiness to bring a Solana-based ETF to market.
The filing comes as other major asset managers, including VanEck and 21Shares, have recently updated their Solana ETF applications. Analysts view this wave of amendments as coordinated progress across issuers preparing for the SEC’s next round of decisions. With Solana’s growing reputation for scalability, low transaction costs, and developer adoption, industry watchers view the blockchain as a strong candidate for the next spot ETF listing following BTC and ETH.
Institutional momentum builds around Solana ETFs
The move highlights Fidelity’s continued leadership in digital asset investment products and reinforces the growing institutional focus on altcoin ETFs. The success of spot BTC ETFs, which have collectively attracted tens of billions of dollars in inflows since their January launch, has spurred traditional financial institutions to explore additional crypto-based investment opportunities. A Solana ETF would represent a significant expansion in investor access, allowing both retail and institutional participants to gain exposure to one of the quickest-growing blockchain ecosystems through a regulated vehicle.
Solana’s high-speed transaction capabilities and expanding decentralized finance (DeFi) ecosystem make it an attractive option for investors viewking diversification beyond BTC and ETH. Market analysts suggest that approval of a Solana ETF could boost institutional liquidity, attract new inflows into the network, and reinforce Solana’s position among the top-performing cryptocurrencies by market capitalization.
Bitwise expresses optimism for an XRP ETF
In a parallel development, Bitwise CIO Matt Hougan shared a bullish outlook on the potential for a spot XRP ETF. Hougan predicted that an XRP ETF could reach $1 billion in assets under management within its first few months of trading, citing strong retail engagement from the so-called “XRP Army.” His comments reflect growing confidence among issuers that the regulatory landscape for digital assets is gradually stabilizing.
While the SEC has yet to provide clear guidance on XRP’s eligibility for a spot ETF, recent progress in crypto-related court cases and evolving policy discussions have fueled speculation that more altcoin ETFs could follow in the coming year. Bitwise, known for its range of crypto index funds and spot BTC ETF, has positioned itself as a leading advocate for broader access to digital asset investment products.
As Fidelity advances its Solana ETF and Bitwise champions the potential of an XRP ETF, both developments point to a maturing digital asset market where institutional players are expanding their focus beyond the leading cryptocurrencies. The growing momentum around altcoin ETFs suggests that investor demand for diversified, regulated crypto exposure is stronger than ever, potentially setting the stage for the next phase of mainstream adoption.
