21Shares to Debut Sixth Solana Spot ETF Today

21Shares has submitted its final filing with the SEC and might launch its Solana ETF today, becoming the sixth Solana spot ETF in the US market.

After a final filing with the SEC, 21Shares will launch the Solana ETF. Following a recent wave of debuts by other asset managers, this would be the sixth SOL fund to enter the market.

21Shares Will Launch Sixth Solana Spot ETF Today

21Shares submitted its final application for a new Solana spot ETF to the US Securities and Exchange Commission on Tuesday. This implies that the product might go on sale today. A 0.21% management charge will be applied to the fund.

The SEC's website indicated shortly after the submission that the Cboe exchange had authorized the fund's listing and registration. In essence, this permits the product's release.

This follows the introduction of two cryptocurrency index ETFs by 21Shares last week. These products provide controlled exposure to Dogecoin, Ethereum, Solana, and Bitcoin. As a result, they are the first crypto index exchange-traded funds (ETFs) to be registered under the Investment Company Act of 1940.

In other events, yesterday saw the introduction of the Fidelity Solana fund by Fidelity Investments, which is traded under the ticker FSOL. With a 15% staking incentive fee and a 0.25% management fee, the fund launched on NYSE Arca. The biggest asset manager currently providing the SOL fund is Fidelity.

Canary Capital also introduced the Canary Marinade Solana spot ETF (SOLC) on the Nasdaq. Marinade Finance is a partner of the fund. For a minimum of two years, they will be the exclusive source of staking. Under typical market circumstances, the fund intends to stake all of its SOL holdings.

SOL ETF inflows Are Still Coming Strong

Despite the market decline, token inflows have persisted. SOL ETFs had net inflows of $26.2 million on November 18. With $23 million in inflows, Bitwise's BSOL dominated the flow. For the fifteenth day in a row, there have been positive inflows into the market. At the same time, Ethereum spot ETFs and Bitcoin spot ETFs saw fresh outflows.

The demand coincides with SOL's price dropping. In the previous week, the coin's value decreased by nearly 10%. Now that Fidelity and Canary Capital are operational, five Solana spot ETFs have entered the US market. With the anticipated introduction of 21Shares, it would reach six. The various products provide a range of market exposures, fee structures, and staking tactics.

On November 17, VanEck also introduced its VSOL fund. The asset manager will collaborate with SOL Strategies for staking and begin the fund with $7.32 million. Until the fund's assets reach $1 billion, the company offers a no-fee structure.