Fidelity will launch a Solana spot ETF, and analysts expect its price to reach $160 by December.

According to DLNEWS, asset management giant Fidelity plans to launch its Solana spot ETF (ticker symbol: FSOL) on Tuesday (November 18th, Eastern Time), becoming the largest asset management company to enter the Solana ETF market after Bitwise and VanEck. This institutional endorsement comes as US regulators restart the approval process after the government shutdown ends.

According to Bitget's chief analyst Ryan Lee, with the addition of Fidelity and the overall recovery of the crypto market, the price of Solana is expected to rebound to the $156-$160 range by the end of November.

Another institution, Canary Capital, also plans to launch its SOLC fund on the same day. This fund will partner with Marinede Finance to offer Solana staking rewards. Currently, several Solana ETFs, including Bitwise ($BSOL), VanEck ($VSOL), and Grayscale, are already on the market, and VanEck has announced a fee waiver for $VSOL to compete.

Analysts believe that the launch of a Solana ETF by a large institution like Fidelity marks a "major shift" in Wall Street's view of Solana as an independent macro asset and could attract up to $5 billion in investment inflows.