On Wednesday, Invesco and Galaxy Digital filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a Solana-based ETF.
ETF Structure and Key Players
According to the filing, Invesco Capital Management LLC will serve as the fund sponsor.
The Bank of New York Mellon will act as the administrator.
Galaxy Digital will be responsible for acquiring and managing Solana (SOL) tokens.
Coinbase Custody Trust Company, LLC will serve as the custodian of the underlying SOL assets.
New Investment Opportunities in Solana
This latest filing positions Invesco and Galaxy among a growing list of issuers seeking to expand crypto ETF offerings beyond Bitcoin and Ethereum. Solana, known for its high-speed and low-cost transactions, has seen increasing interest from institutional investors and developers alike.
Market Impact and Investors
If approved, QSOL would be one of the first U.S.-listed products offering direct exposure to Solana, signaling a potential milestone in the integration of Layer 1 tokens into traditional investment vehicles.
The approach of Invesco and Galaxy to create an ETF for Solana demonstrates the growing interest in new cryptocurrencies in the traditional investment market.
