Invesco and Galaxy Digital have officially applied to launch a Solana ETF, offering investors a regulated way to access Solana tokens.
The fund's strategy involves staking Solana assets to increase revenue, with proposals submitted to the SEC, joining other companies in the market.
The ETF, named the Invesco Galaxy Solana ETF, would trade on the Cboe BZX Exchange under ticker symbol QSOL, with custodians Bank of New York Mellon and Coinbase Custody.
There is a high probability of Solana ETF approval in 2025, indicating growing institutional interest in altcoins beyond Bitcoin and Ethereum.