In recent days, Invesco and Galaxy Asset Management have taken steps towards creating a fund associated with Solana by registering a trust in Delaware. This event highlights the growing interest in Solana from major investors.
ETF Registration Process for Solana
Invesco and Galaxy Asset Management have filed a trust registration in Delaware, an important step towards launching a Solana ETF in the United States. This process is similar to what has previously happened with Bitcoin and Ethereum ETFs, marking the initial stage for the SEC filing.
Growing Interest from Institutional Investors
The collaboration between Invesco and Galaxy signifies a significant rise in interest in Layer 1 digital assets like Solana, broadening the strategic horizons of digital asset management. Their experience in launching Bitcoin and Ethereum ETFs will be beneficial in this context.
Market Predictions and Impact
Market analysts predict that the launch of a Solana ETF could lead to higher trading volumes and potential price changes for the asset. Historically, such initiatives tend to spark increased interest and speculative activities.
> "There’s a 90% chance of Solana ETF approval this year, given the SEC’s ongoing engagement with issuers." — *Eric Balchunas, ETF Analyst, Bloomberg*
If approved, the Solana ETF could have a notable market impact, similar to previous trends observed with Bitcoin and Ethereum products.
The planned Solana ETF has the potential to broaden access to this asset for institutional investors, potentially changing its place in the digital asset market.
