Can Solana ETF Launches Revive Hopes for SOL Price Recovery While Treasury Firm Sells Big

Asset managers Fidelity and Canary Capital will be launching their spot Solana ETFs on November 18. Market experts believe that this could help somewhat in SOL price recovery, after 27% downside on the monthly chart. Despite the crypto market correction, the ETF inflows have remained positive.

Fidelity Solana ETF Launching Today

Fidelity’s Solana ETF (FSOL) is scheduled to launch on Tuesday with a fee of 25 basis points, according to Bloomberg senior ETF strategist Eric Balchunas. Balchunas noted that Fidelity will be the largest asset manager to enter the Solana ETF category, with BlackRock yet to launch a competing product.

ETF Expert and Nova Dius Wealth expert Nate Geraci said that Fidelity introduced direct spot Solana trading and was set to launch its spot Solana ETF on Tuesday. The rollout provides both direct Solana access and an exchange-traded product from the world’s third-largest asset manager. Geraci noted that the expansion underscored how rapidly institutional offerings evolved.

The first mover, Bitwise’s BSOL has already accumulated $450 million in assets under management (AUM). On Monday, asset manager VanEck launched its spot Solana ETF (VSOL), while offering direct exposure to the altcoin.

VanEck said it will waive all sponsor fees for its Solana ETF (VSOL) on the first $1 billion in assets under management or until February 17, 2026, whichever comes earlier. After the promotional period ends, the fund will carry a 0.30% annual sponsor fee.

Bloomberg Intelligence analyst James Seyffart said that Canary Funds is set to launch its Solana ETF, ticker SOLC, on Tuesday. The product is being introduced in partnership with Marinade Finance, which will provide staking services for the fund.

Solana ETF Inflows Remain Positive

Inflows into spot Solana ETF have remained positive despite the market turmoil and SOL price dropping 27% over the past month. Bitwise Solana Staking ETF (BSOL) has seen the most inflows with AUM hitting nearly $450 million.

The BSOL fund attracted approximately $34 million in new capital last week, bringing total inflows since its launch three weeks ago to roughly $577 million. The firm said the steady demand indicates that ETF investors remain interested in gaining exposure to Solana even during the market downturn.

As per data from IntoTheBlock, Volatility Shares 2x Solana ETF has the second-largest AUM at $335 million. This shows that the demand for the Solana exchange-traded fund remains robust.

SOL Price Faces Intense Selling Pressure

SOL price has come under intense selling pressure, correcting more than 27% on the monthly chart. It turns out that the largest Solana Treasury firm, Forward Industries, sold a good part of its SOL holdings on Monday.

One of the largest known Solana treasuries dumped a whopping 6.8 million SOL, valued at approximately $1.65 billion. Market observers stated that Forward Industries, which acquired the Solana holdings just two months ago, has now begun offloading the entire position at a substantial loss. The move has drawn significant attention amid heightened volatility across the crypto market.

On the other hand, following the market downturn on Oct. 11, on-chain data shows that trader 0x35d1 continued to build a substantial short position against Solana (SOL). The position has generated approximately $14.75 million in unrealized gains to date.

The trader continued adding to the bet, bringing the total short position to 394,153 SOL, valued at $52.39 million at the press time price.