Cboe files for Fidelity’s Solana ETF amid regulatory shift

Cboe BZX Exchange has filed with the SEC to list Fidelity’s proposed Solana (CRYPTO:SOL) ETF, marking a new push for altcoin-linked exchange-traded funds in the U.S.

This follows Cboe’s March 12 bid to list Franklin Templeton’s SOL ETF, as regulators reconsider crypto policies under President Donald Trump.

The SEC’s stance has shifted since Trump’s inauguration, contrasting with the Biden administration’s aggressive enforcement.

Under Biden, the SEC filed over 100 lawsuits against crypto firms, approving only Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) spot ETFs in 2024.

Trump’s pro-crypto agenda has encouraged issuers like Grayscale, VanEck, and Bitwise to explore ETFs for Litecoin (CRYPTO:LTC), XRP (CRYPTO:XRP), Dogecoin (CRYPTO:DOGE), and TRUMP (CRYPTO:TRUMP) tokens.

Bloomberg Intelligence analysts estimate a 70% chance of spot SOL ETF approval in 2025, citing CME’s launch of SOL futures on March 17 as a key factor.

Volatility Shares introduced SOLZ and SOLT ETFs in March, offering futures-based Solana exposure.

While interest in diversifying crypto ETFs is growing, regulatory challenges remain, especially for proposals involving staking, options, or in-kind redemptions.

The SEC faces pressure to balance investor protections with market demand as Trump’s administration signals support for crypto innovation.

Cboe’s filings for Fidelity and Franklin Templeton’s SOL ETFs highlight the increasing focus on Solana’s ecosystem.

At the time of reporting, the Solana (SOL) price was $142.35.