Fidelity Solana Fund reported its financial results for the six months ending June 30, 2026, revealing a total net asset value of $127.1 million, an increase from $113.9 million at the end of the previous fiscal period. The fund's net assets were bolstered by a significant rise in outstanding shares, which increased from 7,775,000 to 14,325,000 during the same period. However, the net asset value (NAV) per share decreased by 39.50%, from $14.66 to $8.87, reflecting a decline in the price of Solana (SOL), which fell 39.57% from $124.73 to $75.37.
The fund's investment income for the six months was reported at $2.7 million, primarily derived from staking rewards. Total expenses for the period amounted to $34,000, with a sponsor fee of $70,138, of which $104 was waived. The net investment income for the period was $2.7 million, but the fund experienced a net decrease in net assets resulting from operations of $63.6 million, largely due to a net unrealized depreciation on investments in SOL of $58.9 million.
Operationally, the fund has seen a substantial increase in the quantity of SOL held, rising from 913,562 SOL at the end of December 2025 to 1,687,589 SOL by June 30, 2026. This increase is attributed to capital share transactions, with 7,950,000 shares issued and 1,400,000 shares redeemed during the six-month period. The fund's staking program has also been a focal point, with 1,675,797 SOL staked, valued at approximately $126.3 million as of the reporting date.
Looking ahead, the fund's management remains focused on tracking the performance of SOL while managing liquidity risks associated with staking. The sponsor has resumed accruing fees after a waiver period that lasted until May 18, 2026. The fund's strategy continues to emphasize passive management, with no plans for active trading or leveraging. The management anticipates that the performance of SOL and market conditions will significantly influence future results, and they are committed to monitoring these factors closely.
About Fidelity Solana Fund
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