Quarterly Solana staking cash payouts planned by Fidelity Solana Fund (FSOL)

Rhea-AI Filing Summary

Fidelity Solana Fund reported a change in its key finance role and outlined a new distribution approach for staking income. Effective February 2, 2026, Heather Bonner will resign as Treasurer and Principal Financial and Accounting Officer of the Sponsor, FD Funds Management LLC, and will be succeeded by Craig S. Brown. The Fund states that Bonner’s resignation is not due to any disagreement over operations, policies, or practices.

The Trust plans to make at least quarterly cash distributions of net income from its Solana staking activities, after expenses. To fund these payments, it may sell staking rewards and/or SOL, which can affect the Fund’s SOL exposure and the Shares’ market price or net asset value. The Trust aims to rely on IRS Revenue Procedure 2025‑31 for grantor trusts that stake digital assets and expects an initial cash distribution on or about February 17, 2026 to shareholders of record on February 13, 2026. Future distributions will depend on factors such as staking yields, validator performance, protocol rules, slashing or downtime events, operational considerations, fees, expenses, and market conditions. Distributions are not guaranteed and may be modified, suspended, or terminated at the Sponsor’s discretion.

Insights

Digital asset fund and ETF analyst

FSOL adds a successor treasurer and formalizes discretionary quarterly staking payouts.

Fidelity Solana Fund (FSOL) is implementing two notable updates. First, Treasurer and Principal Financial and Accounting Officer duties at the Sponsor move from Heather Bonner to Craig S. Brown effective February 2, 2026, with the filing stating her resignation does not stem from disagreements over operations or policies.

The Trust also intends to pay at least quarterly cash distributions of net staking income, after expenses, from its Solana staking activities. To generate cash, it may sell staking rewards and/or a portion of its SOL, which the Trust notes can influence both its SOL exposure and the Shares’ market price or net asset value. The first distribution is expected on or about February 17, 2026 to holders of record on February 13, 2026.

The Trust aims to align with IRS Revenue Procedure 2025‑31 safe harbor guidance for grantor trusts that stake digital assets, while cautioning that the IRS may change or withdraw this guidance and that distributions are not guaranteed. The amount and timing of future distributions will depend on factors such as network staking yields, validator performance, protocol rules, slashing or downtime events, operational needs, fees, expenses, and market conditions, and the Sponsor may modify, suspend, or terminate distributions at its discretion.

8-K Event Classification

2 items: 5.02, 8.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

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Accepted by SEC EDGAR 02/05/2026 - 04:36 PM Learn about SEC filing dates

FAQ

What leadership change did Fidelity Solana Fund (FSOL) disclose in this 8-K?

The Fund disclosed that Heather Bonner will resign as Treasurer and Principal Financial and Accounting Officer of the Sponsor effective February 2, 2026. She will be succeeded by Craig S. Brown. The filing states her decision to resign was not due to any disagreement over operations or policies.

How will Fidelity Solana Fund (FSOL) handle staking income distributions?

The Trust intends to make at least quarterly cash distributions of net income from Solana staking, after expenses. To fund these distributions it may sell staking rewards and/or a portion of its SOL, which can affect the Trust’s SOL exposure and the Shares’ market price or net asset value.

When is the initial cash distribution for Fidelity Solana Fund (FSOL) expected?

The Trust’s initial distribution is expected on or about February 17, 2026. It will be paid to shareholders of record as of February 13, 2026. Future distributions will depend on factors such as staking yields, validator performance, protocol rules, and overall market conditions.

Are Fidelity Solana Fund (FSOL) staking distributions guaranteed for investors?

Distributions are not guaranteed. The Sponsor may modify, suspend, or terminate distributions at any time in its sole discretion. The amount and timing depend on staking yields, validator performance, protocol rules, slashing or downtime events, operational considerations, fees, expenses, and market conditions.

How does IRS Revenue Procedure 2025-31 affect Fidelity Solana Fund (FSOL)?

The Trust intends to make at least quarterly cash distributions to rely on safe harbor conditions in IRS Revenue Procedure 2025‑31 for grantor trusts staking digital assets. The filing cautions the IRS may modify, clarify, or withdraw this guidance, so tax treatment of distributions cannot be assured for shareholders.

What risks does Fidelity Solana Fund (FSOL) highlight regarding its Solana staking strategy?

The Trust notes staking involves operational and protocol risks, including slashing, changing network reward rates, and periods when staked assets may be illiquid. These factors could reduce or eliminate distributable income, influence the timing of distributions, and affect the Trust’s overall SOL exposure and performance profile.

0002063380false00020633802026-02-022026-02-02

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 02, 2026

Fidelity® Solana Fund

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-42958	39-6898315
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
245 Summer Street V13E
Boston, Massachusetts				02210
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 800 343-3548

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Shares of Beneficial Interest of Fidelity Solana Fund		FSOL		NYSE Arca, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Departure of Heather Bonner

Effective February 2, 2026 (the “Effective Date”), Heather Bonner, having provided notice of her resignation, shall cease serving as Treasurer (Principal Financial and Accounting Officer) of FD Funds Management LLC (the “Sponsor”). Heather Bonner’s decision to resign was not the result of any disagreement relating to the Sponsor or the Fund’s operations, policies or practices.

Appointment of Craig S. Brown

In connection with Heather Bonner’s resignation as Treasurer (Principal Financial and Accounting Officer) of the Sponsor, on the Effective Date, Craig S. Brown will serve as Treasurer (Principal Financial and Accounting Officer) of the Sponsor.

Craig S. Brown, Treasurer (Principal Financial and Accounting Officer)

Mr. Brown is a Vice President (2015-present) and is an employee of Fidelity Investments. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present). Previously, Mr. Brown served as Assistant Treasurer of certain Fidelity funds (2019-2022).

Item 8.01 Other Events.

Fidelity Solana Fund (the “Trust”) intends to make quarterly cash distributions of income generated from its staking activities to holders of the Trust’s shares of beneficial interest. The distributions will consist of net staking income after deduction of any Trust expenses. To fund the cash distributions, the Trust may sell staking rewards and/or a portion of its SOL, which may affect the Trust’s exposure to SOL and the market price and/or net asset value of the Shares.

The Trust intends to make cash distributions at least quarterly in order to rely on the safe harbor conditions established by IRS Revenue Procedure 2025‑31 applicable to grantor trusts that stake digital assets. The IRS may modify, clarify, or withdraw such guidance, and there can be no assurance as to the tax treatment of any distributions to shareholders. Shareholders should consult their own tax advisers about the U.S. federal, state, local, and non‑U.S. tax consequences of holding Shares and receiving distributions.

The Sponsor expects to declare distributions on a quarterly basis, with record and payment dates set by the Sponsor and/or in accordance with the rules of the Trust’s listing exchange. The Trust’s initial distribution is expected to be made on or about February 17, 2026, to shareholders of record as of February 13, 2026. The amount and timing of any future distributions will depend on, among other things, network staking yields, validator performance, protocol rules (including any lock‑up or unbonding periods), slashing or downtime events, operational considerations, fees and expenses, and market conditions. Distributions are not guaranteed, and the Sponsor may modify, suspend, or terminate distributions at any time, in its sole discretion.

Staking involves operational and protocol risks, including slashing, changes to network reward rates, and periods during which staked assets may be illiquid. These factors could reduce or eliminate distributable income and may affect the timing of distributions. Additional information regarding the Trust’s staking practices, service providers, fees, and risks is described in the Trust’s SEC filings.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		FIDELITY SOLANA FUND FD Funds Management LLC, as Sponsor of the Fidelity Ethereum Fund
Date: February 5, 2026		By:	/s/ Cynthia Lo Bessette
			Name: Cynthia Lo Bessette
			Title: President (Principal Executive Officer)

SOL-8-K-0226

1.9920970.100