Invesco, one of the world’s largest asset managers, has officially entered the spot Solana ETF race, filing a registration statement with U.S. regulators in collaboration with Galaxy Digital. The proposed Invesco Galaxy Solana ETF would directly hold Solana (SOL) and aim to track its market price in real time.
ETF Details and Listing Plans
The newly proposed ETF would be listed on the Cboe BZX Exchange under the ticker symbol “QSOL.” If approved, it will join a growing list of crypto-backed exchange-traded products offering direct exposure to digital assets.
The filing also mentions that the ETF could stake a portion of the SOL holdings “from time to time,” potentially generating additional yield for investors.
To proceed with approval, Invesco and Galaxy Digital must still submit a Form 19b-4, which formally proposes the rule change to the U.S. Securities and Exchange Commission (SEC) for review.
Surging Institutional Interest in Solana
Invesco becomes the ninth financial institution to file for a spot Solana ETF, joining notable firms such as:
- VanEck
- Grayscale
- CoinShares
- Bitwise
- 21Shares
- Franklin Templeton
- Canary Capital
- Fidelity Investments
This surge reflects growing institutional demand for Solana, which is now viewed as one of the leading blockchain ecosystems behind Ethereum.
Solana has gained attention for its high-speed performance, low transaction costs, and expanding ecosystem, including NFT platforms, DeFi protocols, and payments infrastructure.
High Approval Confidence from Analysts
Analysts estimate there is a 90% chance of approval for one or more Solana ETFs, especially following recent regulatory progress in crypto-based financial instruments.
Approvals could arrive as early as next month—well ahead of the formal October 10 deadline.
The move would mark a significant milestone in bringing Layer-1 blockchain assets like Solana into regulated U.S. investment vehicles, similar to Bitcoin and Ethereum ETFs.
Outlook: Spotlight on Solana’s Institutional Future
With Invesco’s entry, the race for the first spot Solana ETF continues to heat up. Approval would represent a major leap for Solana’s mainstream adoption, allowing both retail and institutional investors to gain regulated exposure to the asset. All eyes are now on the SEC’s decision in the coming weeks.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.