Asset management giants Invesco and Galaxy Digital have formally filed for a Solana exchange-traded fund (ETF), aiming to provide investors with regulated exposure to the SOL token.
The proposed ‘Invesco Galaxy Solana ETF’ was registered as a domestic statutory trust in Delaware. This filing represents a significant step towards engaging with the U.S. Securities and Exchange Commission (SEC) for regulatory approval.
The ETF seeks to offer investors a regulated alternative to direct purchases of SOL tokens, addressing common concerns such as custody security and regulatory compliance. This move reflects the growing institutional interest in cryptocurrency investment vehicles.
The next stage involves submitting a detailed Form S-1 registration statement to the SEC. Approval will depend on factors including the assessment of market manipulation risks and the adequacy of custody arrangements.
If approved, the Solana ETF could significantly lower barriers to entry for traditional investors seeking exposure to Solana. Such a development has the potential to catalyze further institutional adoption of Solana, influencing its market valuation and ecosystem expansion.