Invesco and Galaxy Digital have officially filed for a spot Solana ETF, which is a big change in the race to expand the crypto ETF landscape. This shows that institutions are interested in blockchain ecosystems beyond Bitcoin and Ethereum. The move, which was confirmed by registering a Delaware statutory trust, sets the stage for what could be the first regulated investment product in the U.S. that gives investors direct access to SOL, Solana’s native token.
A big step forward from Bitcoin and Ethereum
The Invesco Galaxy Solana ETF will try to follow the performance of Solana by holding real SOL tokens. This is similar to how spot Bitcoin ETFs work in the U.S. markets. This brave move shows that more and more investors are interested in blockchain platforms that are faster and cheaper. Solana is often called the “Visa of crypto” because it can handle many transactions at once and has low fees.
The trust registration is the first step toward sending the SEC and exchange regulators Form S-1 and the required 19b-4, even though the SEC hasn’t approved it yet. If approved, the ETF would let U.S. investors get exposure to Solana through regular brokerage accounts, so they wouldn’t have to hold it themselves or deal directly with crypto exchanges.
James Seyffart, an ETF analyst at Bloomberg, said that people are becoming more hopeful because there are still talks about how to add staking rewards to ETF structures. This is a unique feature of Solana’s proof-of-stake design. Even though U.S. regulators haven’t yet approved yield-bearing crypto ETFs, similar products are already available in Canada and Europe, which gives us an idea of what might happen.
What It Means for the Market and Solana
This year, Solana has already attracted a lot of interest from big businesses. It has outperformed many Layer 1 tokens and is becoming more popular with developers, payment platforms, and retail apps. If approved, a spot ETF could unlock billions of dollars in passive investment from advisors, retirement accounts, and institutions previously restricted by regulations.
After the news of the filing, crypto sentiment on social media quickly rose. Polymarket traders raised the odds of approval before the end of the year to over 90%. Long-time SOL investors see these developments as proof that the blockchain can be used in business.
The filing alone shows that Solana has officially joined the upper tier of institutional-grade crypto assets, even though the timeline is still unclear. If the ETF is approved, it could be a turning point not just for Solana but also for the next stage of crypto adoption.
Also read: Let Your Crypto Hustle for You with HTX Earn
