Solana Just Got Another ETF Approved — And Wall Street Is Suddenly Obsessed
Cboe Approval Positions 21Shares Solana ETF Among New Spot SOL Funds
The U.S. crypto investment landscape expanded again this week as the Chicago Board Options Exchange (Cboe) approved the listing of the 21Shares Solana ETF, a new spot fund trading under the ticker TSOL. According to the latest SEC filing, the approval signals that trading could begin as early as today, marking yet another major milestone for institutional access to Solana.
The filing, submitted under Form 424B3, appeared in the SEC’s public database and immediately gained attention across the broader crypto market. For analysts and investors tracking the rapid rise of Solana-based financial products, the approval solidifies the momentum behind SOL-focused exchange-traded funds.
With this addition, the U.S. market now hosts six Solana spot ETFs, each with a different strategy, fee structure, and approach to staking—demonstrating accelerated competition among asset managers seeking to capture the growing demand for Solana exposure.
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| Source: sec.gov |
21Shares Introduces Lowest-Fee Spot Solana ETF
The new ETF from 21Shares is set to become one of the most cost-effective options in the category, featuring a 0.21% management fee, the lowest among active Solana ETFs in the U.S. The competitive pricing signals 21Shares’ intention to position itself aggressively against established asset managers that entered the market earlier.
This launch arrives after months of rising inflows into Solana investment vehicles, fueled by expanding interest from institutional investors, improved blockchain performance, and consistent capital rotation toward SOL as a high-throughput alternative to other major networks.
According to filings reviewed via hokanews, the ETF’s structure is designed to provide straightforward, regulated exposure to SOL without the additional staking fees other funds have adopted. This difference may appeal to investors seeking clarity rather than yield-based complexities.
Fidelity, Canary Capital, and VanEck Expand the Solana ETF Landscape
The approval of 21Shares’ spot Solana ETF comes amid a surge of new entrants to the Solana ETF sector.
Fidelity Expands Its ETF Portfolio With FSOL
Fidelity launched its FSOL Solana ETF the previous day on NYSE Arca, introducing a 0.25% management fee along with a 15% staking reward fee. As one of the largest asset managers in the world, Fidelity’s entry carries significant weight in validating investor demand for SOL.
Canary Capital Debuts SOLC
Canary Capital recently launched its SOLC ETF on Nasdaq, in partnership with Marinade Finance. The fund plans to stake 100% of its SOL holdings during normal market conditions, leveraging Solana’s yield-producing capabilities to potentially enhance returns.
VanEck Introduces VSOL Fee-Waiver Program
VanEck’s VSOL launched on November 17 and stands out for waiving management fees until the fund reaches $1 billion in assets. The firm is betting that a zero-fee strategy will attract a strong wave of early investors.
With 21Shares entering the scene, investors now have six total Solana ETFs, each offering different fee schedules, staking models, and exposure methods. This makes Solana one of the fastest-growing sectors of the crypto ETF market, outpacing several traditional blockchain-focused categories.
Strong Inflows Continue Despite Market Weakness
Even as broader crypto markets showed signs of weakness this week, inflows into Solana ETFs continued to rise. According to the latest data shared via hokanews, November 18 marked the 16th consecutive day of positive inflows into SOL investment products.
Daily inflow totals included:
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Bitwise BSOL: $23 million
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Total across Solana funds: $26.2 million
Current cumulative inflows now stand at:
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Bitwise BSOL: $388.1 million
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Grayscale Solana Trust: $28.5 million
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Fidelity FSOL: $2.1 million
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VanEck VSOL: $1.8 million
These inflows stand in contrast to the recent price performance of Solana, which is trading near $134.64, down about 3.82% over the past 24 hours.
Analysts note that the disconnect between inflows and price highlights the growing separation between long-term fund accumulation and short-term market volatility.
Analysts Expect Price Stabilization Around Current Range
Market analysts believe Solana is showing early signs of stabilizing after a volatile week. Data indicates that the asset recently swept liquidity levels near $130, a signal that short-term buyers may be forming a base.
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| Source: CMC |
Analysts outline three immediate price scenarios:
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Bullish Reclaim: A move above $150 could restore upward momentum and potentially re-target liquidity around $180.
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Neutral Consolidation: SOL may hover in the $130–$145 range as the market digests ETF-related flows.
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Long-Term Targets: Liquidity maps still point toward long-term levels near $210 if institutional inflows remain strong.
Several analysts argue that continued ETF inflows may play an important role in stabilizing the asset, particularly as institutional buying tends to follow a structured, long-horizon strategy rather than short-term speculation.
21Shares Further Strengthens Its Crypto ETF Portfolio
The introduction of the TSOL ETF follows a busy month for 21Shares. Last week, the company introduced two new crypto index exchange-traded funds, covering Bitcoin, Ethereum, Solana, and Dogecoin. These were the first crypto index funds registered under the Investment Company Act of 1940, a regulatory milestone that adds significant credibility to the firm’s offerings.
Internationally, 21Shares is already known for its Solana Staking ETP (ASOL.SW) in Europe. The product currently trades near $73.90 and manages approximately $1.45 billion in net assets. With the new U.S. spot ETF, 21Shares is expanding its global footprint in Solana-focused investment products.
For the broader crypto market, the addition of TSOL signals rising demand for diversified exposure to blockchain assets beyond Bitcoin and Ethereum. The ETF market—once dominated solely by BTC and ETH—now sees Solana emerging as the strongest third contender.
What Comes Next for Investors?
As the new 21Shares Solana ETF enters its trading phase, all eyes will be on market reaction. Analysts anticipate the following developments:
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Early institutional inflows may drive intraday volatility during the first sessions.
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Fee competition may push other asset managers to adjust their strategies.
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Retail traders may show increased interest as ETF visibility grows across mainstream financial media.
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Solana’s network metrics, including transaction throughput and staking yields, will likely become more influential drivers of long-term valuation.
The approval and launch of TSOL also reflect the broader maturation of Solana as an investable asset class. The blockchain’s usage in payments, meme coin trading, DeFi, and token infrastructure has surged in recent months, helping position the network as a core part of the next generation of digital finance.
As highlighted by hokanews, the ongoing expansion of Solana-based financial products is likely to fuel continued discussion about how traditional markets will integrate high-performance blockchains into mainstream portfolios.
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