Solana Reaches 15% of Major U.S. Exchange Activity, Fidelity Says

By Nathan Brooks

Fidelity Digital Assets reported that Solana represented “15% of the activity count on major U.S. stock exchanges in 2026,” up from 0.3% in 2022. At 15%, Solana accounts for roughly three of every 20 counted activities on those exchanges, compared with three of every 1,000 in 2022, a 14.7-percentage-point and roughly 50-fold increase.

Fidelity Digital Assets characterized the composition as “primarily in crypto-native assets rather than traditional securities.” The report suggests increased market interest and acceptance within the financial ecosystem, and says market participants may interpret it as supportive of Solana’s growing legitimacy in the financial sector.

That interpretation belongs to market participants, not to a regulatory finding; exchange activity is the measurable fact.

What does the 15% activity count change for practitioners?

The metric is an activity count, and Fidelity’s report does not define its unit, provide a dollar-volume breakdown, identify the exchanges, or explain how it treats each transaction. The defensible conclusion is therefore narrow: Solana’s measured activity on major U.S. stock exchanges has risen materially.

The figure does not establish that Solana handles 15% of exchange trading value, hosts 15% of listed securities, or receives 15% of exchange revenue.

The report does not say whether the increase comes from more transactions, more products, more venues, or a change in measurement. It also does not claim that Solana has become a settlement layer for conventional securities.

For market participants, the report is more useful as a measure of change than as a complete measure of economic share. The increase from 0.3% to 15% says that Solana has become more relevant to the activity monitored by major U.S. stock exchanges. It does not, by itself, show the persistence of demand or the terms behind the activity.

For practitioners, the practical change is a need to monitor where crypto-native activity is occurring, rather than an automatic reason to move custody, execution, or settlement systems. The figure identifies an area of exchange activity that expanded from a 0.3% share in 2022 to 15% in the report’s 2026 snapshot.

For venues, intermediaries, and financial institutions, the practical test is whether that activity remains elevated and whether it extends into traditional financial systems.

Fidelity’s report points to three specific watch items:

• Integration: Further developments in Solana’s integration with traditional financial systems could indicate whether the reported activity broadens beyond crypto-native assets.
• Technology and regulation: Regulatory actions or technological advancements could affect Solana’s competitive position.
• Industry response: Reactions from other major exchanges and financial institutions could provide insight into future pricing trends.

The operational distinction should shape how institutions read the result. A high activity count within crypto-native assets can increase the relevance of exchange connectivity, monitoring, and liquidity operations for firms serving that market, but Fidelity does not document specific deployments, institutional mandates, or regulatory outcomes. Practitioners should therefore separate the observed activity count from broader claims about adoption.

The next tests are integration with traditional finance, regulatory or technological change, and responses from other major exchanges and financial institutions; Fidelity’s 15% figure documents measured activity, not a completed market shift.