Cantor Fitzgerald discloses stake in Solana ETF investment

Institutional Interest Grows with New Solana-Linked Products

On December 2, Cantor Fitzgerald, a prominent financial services firm, disclosed a substantial stake of $1.28 million in the Volatility Shares Solana ETF. This investment marks the firm's first reported exposure to a regulated Solana product and signifies a growing trend of institutional interest in Solana-linked Exchange Traded Funds (ETFs) as new products become available in U.S. markets.

The filing, submitted to the U.S. Securities and Exchange Commission (SEC) in mid-November, details 58,000 shares held in the Volatility Shares Solana ETF (Nasdaq: SOLZ). At the time of the filing, this position was valued at $1,282,960.

Cantor Fitzgerald's ETF Holdings and Portfolio Overview

According to the SEC filing, as of September 30, 2025, Cantor Fitzgerald, L.P. reported total holdings amounting to $11.37 billion. A MarketBeat report indicated that a significant portion of Cantor Fitzgerald's holdings, specifically 80%, is concentrated within just 17 companies or ETFs, despite the firm holding shares in 326 different equities.

During the third quarter, purchases by Cantor Fitzgerald constituted approximately 39.53% of its portfolio. Conversely, about 91.75% of the portfolio was sold within the same quarter. The firm acquired 428 new stocks and increased its holdings in 104 existing stocks.

Notably, Cantor Fitzgerald divested around 61 stock shares and completely exited positions in 239 stocks during the third quarter.

Solana ETF Performance and Market Activity

The SEC filing does not specify the exact share price at the time of acquisition. However, on-chain data from Google Finance showed that the fund closed at $22.12 on September 30, marking the end of the third quarter. As of December 2, the Volatility Shares Solana ETF (SOLZ) closed at $12.80, reflecting a decrease of $1.30 (approximately 9.22%) from its previous closing price of $14.10.

Following the market close, after-hours trading data indicated a slight recovery, with SOLZ trading at $13.05, an increase of $0.25 (1.95%). During regular trading hours on December 2, SOLZ traded within a daily range of $12.68 to $13.09.

Jonathan Inglis, Founder and CEO of crypto-focused consumer research firm Protocol Theory, commented that disclosures of Solana ETF holdings by firms like Cantor Fitzgerald contribute to de-risking this asset category for ordinary investors.

New Solana ETFs Emerge Following SEC Approval

Cantor Fitzgerald's announcement comes at a time of significant activity in the Solana ETF market, with issuers like Fidelity, Canary, and VanEck launching new products last month.

VanEck's VSOL was the first to debut on November 17, launching on exchanges with an initial zero cost structure. Canary Capital, in partnership with Marinade Finance, followed with the SOLC ETF on November 18. This ETF is designed to incorporate on-chain staking within a commodity-trust structure.

Fidelity's FSOL ETF subsequently launched with an annual fee of 0.25%, marking the first Solana product from a major traditional asset manager.

The proliferation of new Solana ETFs reflects a broader trend among issuers to introduce spot products to the market, following the SEC's certification of new generic listing requirements for commodity-based trusts on September 18. These new standards permit exchanges like Nasdaq, Cboe BZX, and NYSE Arca to list trusts that meet specific criteria without requiring a separate Commission order. While the new rules prohibit leveraged and inverse structures, they facilitate a faster qualification process for commodities or crypto-linked products.

As previously reported, Grayscale Investments announced that its Grayscale Solana Trust ETF (GSOL) began trading on NYSE Arca as an ETP. This launch signifies GSOL as the first of Grayscale's staking products to be uplisted under the SEC-authorized generic listing requirements.

“Today’s GSOL launch underscores our conviction that the modern portfolio includes digital asset exposure for growth and diversification alongside equities, bonds, and alternatives.”

- Inkoo Kang, Senior Vice President, ETFs, at Grayscale.

In addition to the surge in Solana-focused products, issuers are also diversifying into other digital assets. On November 18, 21Shares submitted paperwork for a Canton Network ETF related to Canton Coin, representing one of the initial efforts to bundle a token built on a permissioned chain into a regulated exchange-traded product.