Invesco and Galaxy have filed for a spot Solana exchange-traded fund (ETF) with the SEC, adding to the increasing interest in crypto ETFs.
Nine major firms, including VanEck and Grayscale, are seeking SEC approval for Solana-based ETF products, indicating rising institutional interest.
The SEC is reviewing ETF proposals as the crypto market moves closer to mainstream finance, with potential early approvals of these products.
The emergence of Solana ETFs reflects a broader trend in the crypto industry, with increasing demand for exposure to various digital assets beyond Bitcoin and Ethereum.