The U.S. Securities and Exchange Commission (SEC) has acknowledged the filing for the Invesco Galaxy Spot Solana ETF. This is a significant step toward potential approval, adding the filing to a wave of similar applications from major asset managers.
Details of the ETF Filing
The Invesco Spot ETF aims to track the price of SOL and includes a staking provision. It is slated for listing on the Cboe BZX Exchange pending regulatory approval. The acknowledgment by the SEC follows the submission of Form 19b-4, proposing a rule change for the ETF's listing and trading.
Current State of the Solana ETF Market
The Invesco Galaxy Solana ETF is among several high-profile SOL ETF applications awaiting SEC decisions. At least eight other asset managers, including VanEck, Bitwise, and Grayscale, have recently filed amended S-1 registration statements, indicating ongoing coordination with regulators.
Expectations for SEC Approval
Market observers view these amendments as a signal that approval may be approaching, with analysts anticipating final decisions as soon as late August or September.
The SEC's acknowledgment of Invesco's filing for the Spot Solana ETF marks an important step towards potential approval. This underscores the growing interest in Solana and efforts by asset managers to integrate crypto assets into traditional financial instruments.
