Fidelity Solana Fund

Fidelity Solana Fund is a U.S.-listed exchange-traded product trust that gives investors exposure to Solana (SOL) through traditional brokerage accounts. The trust holds SOL directly, seeks to track SOL’s U.S. dollar price performance, and also aims to capture staking rewards associated with the underlying token.

— Fidelity Solana Fund
%
Exchange-traded crypto exposure100% Shares of a trust that hold SOL and trade on an exchange like a listed security.
Staking-related yield0% Incremental return component tied to staking-based amounts associated with SOL holdings.

The fund is bought by investors who want Solana exposure without directly buying, storing, or transferring the token...

  • Retail brokerage investorsprimary

    Buy shares for simple, regulated exposure to SOL without managing wallets or private keys.

  • Institutional allocatorsprimary

    Use the listed trust as a portfolio vehicle for crypto exposure within traditional custody and trading systems.

  • Authorized participants and market makerssecondary

    Create and redeem baskets to support liquidity and arbitrage between market price and NAV.

The trust is U.S.-domiciled and its shares trade on a U.S. exchange, so the core business is centered in the United...

  • •U.S.-domiciled trust structure
  • •Shares trade on a U.S. exchange
  • •SOL valuation is benchmarked in U.S. dollars
  • •Operations depend on U.S. brokerage and market infrastructure
  • •No country revenue split is disclosed for this trust

The trust’s strategy is to provide efficient, exchange-traded access to Solana while tracking the index and adding...

01
Maintain tight SOL trackingshort-term

The product value proposition depends on staying close to SOL performance after expenses.

02
Manage staking implementation and liquidityshort-term

Staking can improve returns but may temporarily reduce transferability and create redemption friction.

03
Build exchange-traded adoptionmedium-term

Trading volume and investor acceptance determine whether the trust becomes a useful access vehicle.

The main business risk is that the trust’s value is directly tied to SOL price volatility, so declines in the token...

high

SOL market price volatility

The trust holds SOL directly, so changes in token price immediately affect NAV and share value.

Scope
Direct exposure to SOL spot price movements
Materiality
high
high

Staking liquidity and transferability risk

Staking-based amounts can temporarily limit the ability to transfer or dispose of SOL, affecting redemptions.

Scope
Redemption processing and liquidity management
Materiality
high
high

Regulatory and exchange rule changes

Crypto ETPs depend on evolving securities, commodities, and exchange frameworks.

Scope
Product listing, operations, and investor access
Materiality
high
medium

Fair value and principal market judgment

SOL is valued using designated pricing sources and principal-market assumptions, which can affect reported NAV.

Scope
Daily valuation and financial reporting
Materiality
medium
Fair value measurement of SOL
NAV and unrealized depreciation/appreciation
Staking-related amounts
Investment return and expense offset presentation
Startup and offering costs borne by sponsor
Early-period operating expense profile

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: 28/04/2026