Asset management firm Invesco Galaxy has formally filed with the U.S. Securities and Exchange Commission to introduce a spot Solana exchange-traded fund (ETF). The proposed fund aims to trade on the Cboe BZX exchange and would provide U.S. investors with direct exposure to Solana (SOL) tokens, signaling a milestone in institutional adoption for the cryptocurrency.
The ETF’s structure deliberately avoids regulation under the Investment Company Act of 1940 or Commodity Exchange Act, aligning with regulatory precedents established by SEC-approved spot Bitcoin and Ether ETFs. This approach leverages existing frameworks validated by recent cryptocurrency ETF approvals.
If authorized, the fund would enhance market liquidity while serving as an accessible investment vehicle for both institutional and retail participants. Its introduction further diversifies the crypto ETF landscape beyond Bitcoin and Ethereum, reflecting broadening institutional acceptance of alternative digital assets.
The SEC’s acceptance of this filing indicates its cautious openness to spot-based cryptocurrency products with proper safeguards, potentially accelerating regulatory pathways for future crypto investment vehicles. Prospective investors should monitor SEC approval progress, establish brokerage access to Cboe BZX, and prepare to place orders pending listing.