Invesco Galaxy files for Solana ETF: Will SEC say yes this time?
Main Idea
Invesco Galaxy has filed for a Solana ETF, signaling growing institutional interest in Solana, but SEC approval remains uncertain despite market optimism.
Key Points
1. Invesco Galaxy filed to list a Solana ETF on the Cboe BZX Exchange, which would offer U.S. investors regulated access to SOL and staking rewards.
2. If approved, this would be the second U.S.-listed Solana ETF with staking, following the REX–Osprey Sol + Staking ETF (SSK), which debuted with $33 million in volume.
3. The SEC has delayed decisions on other high-profile ETF applications, including Truth Social’s Bitcoin ETF and Grayscale’s, indicating regulatory uncertainty.
4. Polymarket data shows over 99% odds in favor of Solana ETF approval, reflecting market optimism after the SEC’s new crypto ETF disclosure guidance.
5. Solana’s market performance remains cautious, with the token trading at $185.43 after a 3.54% dip in the last 24 hours.
Description
With the SEC hesitating and investors leaning in, is approval closer than expected?
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