Invesco Galaxy files S-1 registration for Solana ETF

Invesco Galaxy files S-1 registration for Solana ETF

In a significant development for the cryptocurrency market, Invesco Galaxy has taken a step forward in its quest to bring a Solana spot ETF to the United States. The company has registered a trust called the Invesco Galaxy Solana ETF, according to public records. This move comes amidst growing optimism and momentum for the approval of Solana ETFs by the SEC.

The registration of the trust is a critical signal to both regulators and investors, indicating Invesco Galaxy's intent to pursue the ETF approval. This development aligns with recent reports suggesting that the SEC could approve Solana ETFs as early as July 2025, with the possibility currently standing at over 90% according to Polymarket data [1].

Invesco Galaxy's filing is part of a broader trend where several issuers are actively seeking SEC approval for crypto ETFs. The company joins a list of issuers that includes VanEck, 21Shares, Canary Capital, Bitwise, Grayscale, Franklin Templeton, Fidelity, and CoinShares, all of whom have filed S-1s for spot Solana ETFs [1]. The simultaneous launch of these products is expected to follow the SEC's traditional approach, which aims to level the playing field and simplify the review process for novel asset classes like cryptocurrencies.

The potential launch of a spot Solana ETF could have significant implications for the cryptocurrency market. It would provide regulated access to Solana through brokerage platforms, potentially paving the way for broader institutional adoption and inclusion in diversified basket ETFs alongside Bitcoin and Ethereum. The introduction of staking provisions in Solana ETFs could also align these ETFs more closely with their underlying crypto assets, enhancing their appeal to investors [1].

For investors, the registration of the Invesco Galaxy Solana ETF is an important development to watch. As the market anticipates the approval of Solana ETFs, investors may benefit from increased liquidity and accessibility to the asset. The filing also suggests that Invesco Galaxy is positioning itself to capitalize on the growing interest in Solana and other cryptocurrencies.

References:
[1] https://seekingalpha.com/article/4796569-solana-etfs-summer-of-sol