The U.S. Securities and Exchange Commission (SEC) has approved the filing for a new ETF that will track the price of Solana (SOL). This news initiates the formal review process for the application.
What is Invesco Galaxy Spot Solana ETF?
The Invesco Galaxy Solana ETF was initially filed on June 25, 2025, through Cboe BZX, targeting spot exposure with integrated staking rewards. This fund directly tracks the spot price of SOL, a leading Layer 1 blockchain known for its speed and scalability.
When will SOL ETFs be approved?
Currently, the SEC has not approved any Solana (SOL) ETF applications. Analysts expect potential approval around October 2025. Meanwhile, multiple institutional investors such as VanEck Trust and Grayscale have also filed for SOL ETF, which could establish Solana as a legitimate asset in traditional financial markets if approved.
What does this mean for Invesco Galaxy?
Despite the ETF not being officially approved yet, this filing signals a positive development for Invesco. The collaboration between Invesco and Galaxy Digital aims to capture opportunities within the crypto ETF market, building on the prior success of Bitcoin and Ethereum ETFs. Expected formal approval could enhance their standing as key players in crypto-related investment products.
The acknowledgment of the Invesco Galaxy Spot Solana ETF filing marks an important step in the regulatory process for crypto investments, though it does not yet imply final approval for launch.