The U.S. Securities and Exchange Commission (SEC) has officially acknowledged Invesco Galaxy's filing for a spot Solana ETF, marking a significant milestone for the crypto ETF market.
Significance of the Filing Acknowledgment
This development, reported through Wu Blockchain and other news channels, highlights growing institutional interest in cryptocurrencies beyond Bitcoin and Ethereum. The ETF will track Solana's spot price on the Cboe BZX Exchange.
Anticipated Approval Timeline
Industry sources, including Bloomberg Intelligence’s James Seyffart, suggest that the approval timeline could span three to five weeks, possibly as early as September 2025.
Market Impact on Solana
A successful Solana ETF could bolster its market position, currently the fifth-largest cryptocurrency by market cap, although regulatory hurdles remain.
In conclusion, the SEC's acknowledgment of the Solana spot ETF filing opens new possibilities for investors and could alter market dynamics, though final decisions are expected by October 2025.
