Invesco Files for Solana ETF as SEC Signals 90% Approval Likelihood
2min readInvesco Capital Management LLC has filed an S-1 with the U.S. Securities and Exchange Commission (SEC) for the
Galaxy ETF. The fund is expected to be listed on the Cboe BZX exchange and will use the Lukka Prime Solana Reference Rate as a benchmark to track Solana’s (SOL) spot price performance. This development could signal a new era for crypto investment products on Wall Street.According to analysts, the approval of Solana, XRP, and Litecoin spot ETFs has a 95% chance by the end of 2025. Additionally,
, , , , and Avalanche ETF applications also have a 90% chance of approval by the end of the year. If these altcoin ETFs are approved by the SEC, it would be the biggest expansion in crypto investment products since Bitcoin and spot ETFs. The SEC, which has only approved spot ETFs for these two crypto assets so far, could mark a historic turning point for crypto markets.The success of spot Bitcoin ETFs has paved the way for new applications. This product group alone manages more than $100 billion in assets. BlackRock’s iShares Bitcoin Trust (IBIT) has reached $70 billion, making it the fastest-growing ETF in history.
A new company has joined the list of firms applying for Solana Spot ETFs, marking a significant development in the cryptocurrency market. The SEC is actively engaging with asset managers to refine their filings for spot Solana ETFs, indicating a growing interest and potential approval in the near future. The SEC is expected to announce its stance on a potential Solana Spot ETF soon, which could unlock a massive wave of liquidity into the market. Analysts have predicted a 90% likelihood of approval for a spot Solana ETF, further fueling optimism among investors.
The approval process for spot Solana ETFs has gained significant traction, with the SEC actively engaging with asset managers to refine their filings. This engagement suggests that the regulatory body is seriously considering the approval of these ETFs, which could have a profound impact on the cryptocurrency market. The potential approval of spot Solana ETFs is part of a broader trend of institutional adoption and strategic developments within the Solana ecosystem. Recent developments, including the potential approval of spot Solana ETFs and the Alpenglow hard fork, are further solidifying Solana's role in the crypto ecosystem. Solana's global expansion efforts, such as its partnership with Kazakhstan, are also contributing to its growing momentum in the U.S. and other regions.
The potential approval of spot Solana ETFs is seen as a significant catalyst for institutional investment in Solana, which could drive its price higher. The approval of spot Solana ETFs could also lead to increased liquidity and market depth, making it easier for investors to buy and sell Solana. The potential approval of spot Solana ETFs is part of a broader trend of institutional adoption and strategic developments within the Solana ecosystem. Recent developments, including the potential approval of spot Solana ETFs and the Alpenglow hard fork, are further solidifying Solana's role in the crypto ecosystem. Solana's global expansion efforts, such as its partnership with Kazakhstan, are also contributing to its growing momentum in the U.S. and other regions.
Ask Aime: Could Solana's ETF approval signal a new era for crypto investments in the U.S.?
Comments
No comments yet