Recent news highlights that Fidelity Solana Fund entered oversold territory in June 2026, reflecting market sentiment and price movements.

• Fidelity Solana Fund (FSOL) entered oversold territory as of June 3, 2026, indicating increased selling pressure or valuation adjustments in the market [N1].

The Fund offers investors a cost-effective and convenient way to gain exposure to SOL, including staking rewards, without the complexities of direct SOL ownership. The backing by Fidelity and the use of multiple custodians and node operators provide operational robustness. The growing adoption of the Solana network and its expanding ecosystem of decentralized applications and DeFi platforms support demand for SOL exposure. The Fund's transparent fee structure and daily NAV calculation enhance investor trust and market efficiency.

The Fund's performance and value are directly tied to the price and network health of SOL, which is subject to volatility, technological risks, and competition from other blockchain platforms. Regulatory uncertainties and potential legal or tax changes could impact staking activities and the Fund's operations. The Fund's net loss reported in the latest quarter reflects operational costs and market conditions. Concentration risk exists given the Fund's sole exposure to SOL. Market liquidity and investor sentiment shifts could affect share trading and redemption dynamics.

The Fund's moat lies in its structure as a regulated exchange-traded product providing convenient access to SOL exposure through traditional brokerage accounts, eliminating barriers and risks associated with direct SOL ownership and transfer. The use of multiple qualified custodians and trusted node operators for staking enhances security and operational reliability. The Fund's passive management and transparent fee structure, combined with the backing of Fidelity's established infrastructure and regulatory compliance, support investor confidence. The Fund's ability to provide staking rewards as part of its investment objective differentiates it from simple SOL price tracking products. However, the moat is subject to the competitive landscape of digital asset investment products and the evolving regulatory environment for digital assets and blockchain technologies.

• Market and Price Volatility: The value of the Fund's shares depends on the price of SOL, which is subject to significant volatility and market risk inherent in digital assets.
• Regulatory and Legal Risks: Changes in laws or regulations affecting digital assets, staking activities, or exchange-traded products could impact the Fund's operations and compliance.
• Operational and Custodial Risks: The Fund relies on multiple custodians and node operators for holding and staking SOL; failures or security breaches could adversely affect the Fund.
• Staking Risks: Staking activities involve risks including potential penalties, network disruptions, or changes in staking rewards that could affect returns.
• Liquidity Risks: The Fund's shares trade on an exchange, but liquidity may be affected by market conditions, impacting the ability to buy or sell shares efficiently.

• Fidelity Solana Fund (the Trust) is a Delaware Statutory Trust formed on March 20, 2025, and commenced operations on November 17, 2025 [S1].
• The Trust issues common shares representing fractional undivided beneficial interest in the Trust, listed on NYSE Arca [S1].
• FD Funds Management LLC is the Sponsor; CSC Delaware Trust Company is the Trustee; State Street Bank and Trust Company is the Transfer Agent and Cash Custodian; Anchorage Digital Bank N.A., BitGo Bank & Trust N.A., and Coinbase Custody Trust Company, LLC are Custodians holding all SOL on behalf of the Trust [S1].
• The Trust's investment objective is to track the performance of Solana (SOL) as measured by the Fidelity Solana Reference Rate (the Index), adjusted for expenses and liabilities, plus staking rewards associated with SOL [S1].
• The Trust holds SOL and values its shares daily using the same methodology as the Index, which uses volume-weighted median price from eligible spot markets [S1].
• The Trust is passively managed, does not invest in derivatives or use leverage, and does not pursue active management strategies [S1].
• The Trust stakes its SOL with trusted node operators to earn staking rewards, which are shared with the Trust after deduction of staking fees; staking is subject to legal and regulatory risk considerations [S1].
• The Trust pays the Sponsor an annual unified fee of 0.25% of SOL holdings, with an initial six-month fee waiver period; the Trust also bears staking fees totaling 15% of staking rewards [S1].
• The Trust's shares are created or redeemed in blocks of 25,000 shares (Baskets) based on the quantity of SOL attributable to each share net of expenses and liabilities [S1].
• The Trust had a net loss of $12,637,000 for the quarter ended June 30, 2026, as reported in the latest 10-Q filing [S2].
• Liquidity ratios and cash equivalents are not disclosed in the latest financial snapshot [S2].
• The Trust provides investors access to SOL through traditional brokerage accounts without the need to hold or transfer SOL directly [S1].
• The Trust's NAV per share is calculated using the Index price methodology and is disseminated intraday every 15 seconds during regular trading hours [S1].
• The Trust's shares do not confer voting rights to shareholders except in limited circumstances [S1].
• The Solana network uses a combination of proof-of-history and proof-of-stake consensus mechanisms to validate transactions and secure the network [S1].
• The Solana network supports decentralized applications including DeFi platforms and NFTs, with approximately $9.3 billion used as collateral on Solana-based DeFi platforms as of December 31, 2025 [S1].
• The Trust's Sponsor maintains a website where SEC filings and reports are accessible [S1].
• The Trust's financial figures are summarized from the latest available SEC filings and are provided for informational purposes only [S2].
• Recent news indicates that Fidelity Solana Fund (FSOL) entered oversold territory as of June 3, 2026 [N1].