Investment management firm Invesco Galaxy has formally registered a Solana-focused exchange-traded fund (ETF) as a Statutory Trust in Delaware. This procedural step represents a mandatory precursor to filing with the U.S. Securities and Exchange Commission (SEC), signaling institutional confidence in Solana’s mainstream financial adoption amid growing demand for cryptocurrency investment vehicles.
Current market data reflects robust Solana engagement, with SOL trading at $147.33 despite a recent 3.35% dip. The asset maintains a $77.74 billion market capitalization and logged $6.35 billion in 24-hour trading volume, underpinned by a notable 72% surge in network activity. Prediction markets now assign a 91% probability of SEC approval for the Solana ETF during the current year.
Industry analysts suggest approval could replicate the positive market impact observed following Bitcoin and Ethereum ETF launches, potentially accelerating SOL’s liquidity and institutional adoption. The SEC’s evolving regulatory posture toward crypto products, coupled with escalating demand for regulated investment channels, may further bolster the application’s prospects. Securing approval would establish a critical precedent for altcoin-based ETFs in U.S. financial markets.