Invesco and Galaxy Digital have filed for a Solana (SOL) Exchange Traded Fund (ETF), increasing the likelihood of approval this year.
Coinbase Custody is proposed to hold the underlying asset (Solana) for the ETF, which is expected to trade on the Cboe BZX exchange under the ticker QSOL.
Seven other asset managers, including Franklin Templeton and Fidelity Investments, have also updated their SOL ETF applications, with a high approval chance as per analysts.
The US Securities and Exchange Commission (SEC) could make a decision on the SOL ETF applications by October 10, 2025, with possible approval announcements as early as July.