Solana

Forward Industries (FORD), the largest corporate holder of Solana, moved over $250 million worth of SOL to Coinbase exchange within 24 hours. The company currently faces unrealized losses of $677 million on its Solana holdings as SOL price continues declining. Approximately $21 million in SOL was later returned from Coinbase's hot wallet to the company's address.

The Office of the Comptroller of the Currency issued Interpretive Letter 1186 on November 18, authorizing national banks to hold native crypto assets and pay blockchain network fees. The guidance enables banks to acquire tokens needed for transaction fees and testing purposes on distributed-ledger networks. Banks may now hold assets on networks including Ethereum, Solana, and Avalanche for operational requirements rather than speculative positions.

Bitwise's Solana Staking ETF logged $56 million in debut trading volume, while Canary Capital's XRP ETF posted $58 million—the two highest launch volumes for any ETF in 2025, according to market data. SOL declined approximately 20% from $205 to $165 in the week following its ETF debut, and XRP fell roughly 7% in the 48 hours surrounding its listing. Both assets reached multi-month lows despite positive net creations in their respective ETF vehicles.

Fidelity and Canary Marinade launched two spot Solana exchange-traded funds on November 18, 2025. FSOL began trading on NYSE Arca with a 0.25% management fee, while SOLC debuted on Nasdaq with a 0.5% fee that includes Solana staking capabilities. The dual listing expands institutional access to Solana through regulated investment vehicles.

Fidelity launched its Solana exchange-traded fund under ticker FSOL on November 18, 2025, with initial holdings of 23,400 SOL tokens valued at $3.3 million. Custody services are provided through BitGo, Coinbase, and Anchorage Digital. The launch coincides with similar ETF filings from VanEck and Canary Capital, reflecting growing institutional interest in Solana-based investment products.

BlackRock's spot Bitcoin exchange-traded fund experienced $1.26 billion in net redemptions during November 2025, marking its largest monthly outflow since launching in January 2024. The fund's share price dropped over 16% to $52, the lowest level since late April 2024. Institutional investors withdrew capital amid fiscal uncertainty and elevated interest rate expectations, according to MarketChameleon data.

Wallets tied to the collapsed Libra memecoin withdrew approximately $4 million from the project's liquidity pool and deployed $61.5 million into Solana, blockchain data show. The transfers occurred as fraud investigations and asset freezes continue in the United States and Argentina. During Libra's collapse earlier in 2025, at least eight insider wallets withdrew roughly $107 million in liquidity as the token's market capitalization dropped more than 94% from $4.5 billion to under $300 million within hours.

Bitcoin dropped below $90,000 on November 18, hitting its lowest level since April 22. The cryptocurrency has fallen nearly 30% from its October peak above $126,000, erasing $266 billion in market capitalization over the past week.

Fidelity Investments launched its Solana exchange-traded fund on Tuesday, trading under the ticker FSOL. The fund includes a staking component and marks Fidelity as the third major asset manager to launch a spot SOL ETF. Bitwise initiated the category with its late October launch, while Grayscale followed shortly after with its own staking-enabled product.

VanEck introduced VSOL, the third US exchange-traded fund enabling Solana staking, on Monday. The fund joins products from Bitwise and Grayscale that have collectively drawn over $380 million in assets since late October. VanEck has temporarily waived its 0.3% management fee through February 17 or until VSOL reaches $1 billion in holdings.