- The Solana price gives a bearish breakdown below the support trendline of a long-coming channel
- Fidelity is preparing to launch its spot Solana ETF under the ticker FSOL.
- The arrival of FSOL follows VanEck’s rollout of its own Solana ETF, VSOL.
SOL, the native cryptocurrency of the Solana blockchain, tanked over 4.5% during Monday’s U.S. market session. The intraday selling pressure mainly came with a broader market correction as the traders witnessed a total liquidation of $761.90 million, and Bitcoin plunged to near $90,000. Despite the price correction, the new Solana ETFs are being added this week, viewed as a potential trigger to renewed bullish momentum.
Solana ETF Market Expands With VanEck’s VSOL and Fidelity’s FSOL
VanEck has opened trading for its new Solana-focused exchange-traded fund, VSOL, adding another entrant into the booming ranks of spot Solana products. The fund opens with the introduction of a fee structure that temporarily eliminates costs for early assets. VanEck will not impose a sponsor fee on the first $1 billion in assets or until mid-February 2026, whichever comes first.
Its external staking partner is following suit by suspending its own staking-related fee for the same window. Should VSOL clear the $1 billion mark before that date, there is a 0.30% charge only on the amount above the limit. After the waiver period ends in February 2026, the continued sponsor fee is 0.30%.
VSOL is intended to store SOL and collect staking rewards, which are created by participating in the Solana network. The structure provides investors with a means of gaining exposure to the token and the yield the validators earn for helping keep the network active.
The launch is immediately followed by another major product. Fidelity’s spot Solana ETF is under the ticker name FSOL and is due to start trading tomorrow. Fidelity priced its fee at 0.25%, which is below the eventual standard rate of VanEck’s product set. Fidelity jumps feet first into the field as the biggest asset manager to provide a Solana vehicle, with BlackRock still absent from this space.
Competition between Solana ETFs has grown rapidly. Breakwave’s BSOL product was the first to market this year and it has accumulated about $450 million in assets. VanEck is now joining that lineup, although Grayscale continues to operate its own Solana offerings. The launch of several spot Solana ETFs in quick succession could potentially increase demand for SOL as new institutional and retail capital will be directed straight into products that necessitate the acquisition of SOL, as well as continued staking of SOL.
Solana Price Loses Multi-Month Support
Over the past week, the Solana price has given a high-momentum downtrend from $172 to the current trading price of $131, accounting for a 23.82% loss. Amid this correction, the coin price gave a decisive breakdown from the support trendline of a long-awaited channel pattern.
The chart setup, characterized by two parallel trendlines, acted as a dynamic support and resistance for the sole price. However, the recent breakdown signals the aggressive nature of sellers to drive further correction in price.
Along with this breakdown, a looming bearish crossover between the 100 and 200 exponential moving averages could just accelerate the selling pressure. Amid sustained selling, the coin could drop another 5.6% and challenge the key support at $125.
On the contrary, if the price manages to reclaim the lower trendline, the buyers could regain strength to drive renewed recovery.
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