Invesco and Galaxy Digital have filed to launch a Solana ETF under the ticker symbol 'QSOL' on Cboe BZX, including a staking option to earn additional SOL tokens.
The proposal reflects a trend of increasing interest in altcoin exposure, with up to nine Solana ETFs potentially approved by July and a 90% likelihood of approval according to analysts.
Institutions like VanEck, Bitwise, Grayscale, and others have also submitted applications for similar Solana ETFs, signaling a broader shift towards altcoin investment products alongside Bitcoin and Ethereum.
Industry analysts anticipate Solana ETF approval by July, potentially paving the way for an 'altcoin ETF summer' with SOL leading the way and multiple issuers vying for approval.