Invesco and Galaxy Digital have filed to launch a Solana exchange-traded fund (ETF), becoming the ninth issuer in the race for a U.S.-listed spot SOL ETF.
The firms registered the “Invesco Galaxy Solana ETF” as a statutory trust in Delaware on June 12, aiming to offer regulated exposure to Solana.
Invesco, a global investment management firm, and Galaxy Digital, a crypto-native financial services company, have previously collaborated on Bitcoin and Ethereum ETFs and are now extending their partnership to Solana.
The increasing interest in Solana ETFs is exemplified by various major players, such as Grayscale, VanEck, Bitwise, 21Shares, Canary Capital, Franklin Templeton, and Fidelity, filing for Solana-based ETFs. The SEC is reviewing technical details, and Bloomberg analysts estimate a 90% chance of approval for both Solana and Litecoin ETFs in 2025.