Fidelity Solana Fund (FSOL) SEC Filings

Fidelity Solana Fund (FSOL) is a Delaware statutory trust offering exchange-traded Shares designed to provide exposure to SOL, the native token of the Solana blockchain. The Shares are listed on NYSE Arca and track the Fidelity Solana Reference Rate, adjusted for expenses and liabilities, plus an amount based on SOL staking rewards.

The Trust holds SOL directly, values Shares using the same index methodology, and, under normal circumstances, may stake up to 100% of its SOL through custodians and node operators, subject to liquidity needs. Staking rewards are shared, with the Trust retaining 85% and paying a flat 15% Staking Fee split among the Sponsor, Custodians and node operator, in addition to a 0.25% annual Sponsor Fee on SOL Holdings. Quarterly cash distributions of net staking rewards are contemplated but not guaranteed.

The Trust is not registered under the Investment Company Act of 1940, is not a commodity pool, and does not provide FDIC or SIPC protection. It offers continuous creation and redemption of 25,000-Share Baskets by Authorized Participants in SOL or cash, while secondary-market investors trade Shares at market prices, which may differ from NAV. The prospectus highlights substantial risks, including SOL’s extreme price volatility, staking and slashing risk, custody and private-key risk, regulatory uncertainty, and the possibility of total loss of investment.

Fidelity Solana Fund (FSOL) files Post-Effective Amendment No. 5 to its Form S‑1, keeping a continuous, registered offering of an indeterminate number of exchange‑traded Shares that track SOL via the Fidelity Solana Reference Rate plus staking rewards. The amendment adds incorporation‑by‑reference of later reports and detailed disclosure on staking‑based distributions.

The Trust holds SOL, may stake up to 100% of its SOL with custodial node operators, and values Shares daily using the Index. It charges a 0.25% annual Sponsor Fee on SOL holdings and a flat 15% fee on staking rewards, with 85% of rewards accruing to the Trust. Shares trade on NYSE Arca under ticker FSOL in Baskets of 25,000 Shares, and the offering is not registered under the Investment Company Act.

The product is positioned as a passively managed, non‑1940 Act, grantor‑trust structure giving brokerage account exposure to SOL and its staking economics, but carries high digital‑asset volatility, protocol, custody, staking (including slashing), and regulatory risks, and may not be suitable for investors unable to bear a total loss.

Fidelity Solana Fund seeks to track the price of SOL plus staking rewards. As of June 30, 2026, net assets were $127.1 million, backed by 1,687,589 SOL with a fair value of $127.2 million, and 14,325,000 shares outstanding.

Over the six months, the SOL price fell 39.57%, driving the fund’s NAV per share down 39.50% from $14.66 to $8.87 and producing a net decrease in net assets from operations of $63.6 million, mainly from $58.9 million in unrealized losses. Staking rewards of $2.7 million generated net investment income of $2.7 million, and the fund paid $0.21 per share ($2.45 million) in cash distributions. Approximately 1.68 million SOL were staked at June 30 (about 99.6% of holdings), with a June net staking reward rate of 5.27%. Sponsor and staking fee waivers ended May 18, 2026; the 0.25% Sponsor Fee and 15% staking fee share began accruing May 19.

Fidelity Solana Fund is a Delaware statutory trust issuing exchange-traded Shares that seek to track the value of SOL, the native token of the Solana blockchain, using the Fidelity Solana Reference Rate, plus an amount based on staking rewards, and reduced by expenses and liabilities. Shares trade on NYSE Arca under the ticker FSOL and are issued and redeemed only in Baskets of 25,000 Shares, in SOL or cash, through Authorized Participants.

The Trust holds SOL in custody at Anchorage Digital Bank NA, BitGo Bank & Trust, N.A., and Coinbase Custody Trust Company, LLC, and may stake up to 100% of its SOL (with some reserved for liquidity, expenses, and redemptions). Staking rewards are shared, with 15% paid as Staking Fees and 85% retained by the Trust, and are generally distributed quarterly in cash after converting rewarded SOL to U.S. dollars. The Sponsor earns a unified fee of 0.25% of SOL Holdings and pays most ordinary expenses.

The Trust is not registered under the Investment Company Act, is not a commodity pool, and investors do not receive protections from the 1940 Act, CFTC regulation, FDIC, or SIPC. The filing emphasizes substantial risks, including extreme SOL price volatility, staking-related risks such as potential slashing, custody and private-key loss risk, regulatory uncertainty, index-tracking differences, and possible forks or network disruptions. The Trust qualifies as an emerging growth company and intends to be treated as a grantor trust for U.S. federal income tax purposes, so shareholders are taxed on their proportionate share of income and gains.

Fidelity Solana Fund is a Delaware statutory trust offering exchange-traded Shares on NYSE Arca under the symbol FSOL. The Shares provide exposure to SOL, the native token of the Solana blockchain, tracking the Fidelity Solana Reference Rate plus amounts from staking rewards, less expenses and liabilities.

The Trust may stake up to 100% of its SOL with Node Operators via institutional custodians, generating rewards of which 85% accrue to the Trust and 15% are paid as Staking Fees to the Sponsor, Custodians and Node Operator. An annual 0.25% Sponsor Fee on SOL Holdings covers ordinary operating costs, while Extraordinary Expenses are borne by the Trust.

Shares are created and redeemed only in Baskets of 25,000 Shares, for SOL or cash, by Authorized Participants. The Trust is not registered under the 1940 Act, is not a commodity pool, and neither the Sponsor nor the Shares are insured or guaranteed. Investments involve significant volatility, operational, custodial, regulatory and staking risks, including potential slashing of staked SOL and total loss of invested capital.

Fidelity® Solana Fund filed a Post-Effective Amendment to its Form S-1 to register a continuous offering of an indeterminate amount of Shares (ticker FSOL) representing fractional interests in an exchange-traded product that holds and stakes SOL to pursue an objective tied to a Fidelity Solana Reference Rate (the "Index") plus staking rewards. The Trust may stake up to 100% of its SOL (no minimum), will value Shares daily to the Index, and issues/redeems in Baskets of 25,000 Shares. The Sponsor charges a unified fee of 0.25% of SOL Holdings; the Staking Fee equals 15% of staking rewards. Distributions are expected to be quarterly and funded from staking rewards, converted to U.S. dollars prior to payment. The offering is continuous and Shares are expected to list on NYSE Arca under FSOL. The Prospectus highlights staking risks including slashing, lock-up/unbonding liquidity delays, custodian control of private keys, and that Shareholders will not receive forked or airdropped assets.

Fidelity® Solana Fund (FSOL) files a Post-Effective Amendment to its Form S-1 to incorporate its Form 10-K and add disclosures about a staking program; no additional securities are being registered. The Trust seeks to track SOL via the Fidelity Solana Reference Rate (VWMP-based, calculated every 15 seconds) plus staking rewards. The Sponsor intends to stake up to 100% of the Trust’s SOL (no minimum), expects quarterly cash distributions from staking rewards, and will pay a 0.25% annual Sponsor Fee. Staking rewards are subject to a 15% Staking Fee allocation to Sponsor/Custodians/Node Operator. Shares will be issued and redeemed in Baskets of 25,000 Shares and are expected to trade on NYSE Arca under FSOL. The Trust is an emerging growth company and is not registered under the 1940 Act.

Fidelity Solana Fund’s first full reported quarter shows how sharply Solana’s price move hit results. Net assets fell from $113.9 million as of December 31, 2025 to $97.4 million as of March 31, 2026, as SOL dropped from $124.73 to $83.37.

Net asset value per share declined from $14.66 to $9.84, a total return at NAV of -32.40%, closely tracking SOL’s volatility. The Trust generated $1.4 million of income from staking rewards and paid a $0.06 per-share cash distribution, while keeping roughly 72% of assets staked.

Shares outstanding grew from 7,775,000 to 9,900,000, as creations outpaced redemptions. A unified 0.25% Sponsor Fee and a 15% Staking Fee remain contractually in place but are fully waived during an initial waiver period covering the first $1.0 billion of assets through mid‑2026.

Fidelity Solana Fund files its annual report describing how this exchange-traded product gives investors exposure to solana (SOL). The Trust holds SOL directly, tracks the Fidelity Solana Reference Rate Index, and aims to add staking rewards on top of index performance, before expenses.

The product is passively managed, uses no leverage or derivatives, and creates/redeems Shares in 25,000‑Share Baskets through Authorized Participants. As of March 20, 2026, 9,975,000 Shares were outstanding. Net asset value is based on a volume‑weighted median SOL price from multiple spot markets, with intraday indicative values published every 15 seconds.

The Sponsor can stake up to 100% of the Trust’s SOL with node operators, subject to liquidity needs, earning staking rewards from which a 15% staking fee would normally be taken, though both the 0.25% Sponsor Fee and Staking Fees are temporarily waived under a six‑month agreement. The report also cites a March 2026 SEC/CFTC interpretation classifying SOL as a digital commodity, not itself a security, and clarifying that protocol staking is not treated as a securities offering, while emphasizing ongoing regulatory and technological risks around the Solana network.