Invesco and Galaxy Seek Solana ETF Amid SEC’s Shifting Crypto Stance
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Invesco and Galaxy Digital have entered the race for a spot Solana ETF, submitting a registration statement to the SEC on Wednesday.
The proposed “Invesco Galaxy Solana ETF” would list on Cboe BZX under the ticker “QSOL,” with BNY Mellon as administrator and Coinbase safeguarding the SOL holdings.
The move follows a wave of similar filings from firms like VanEck and 21Shares, many submitted under the expectation of a more crypto-friendly SEC under a potential Trump administration. The agency’s recent approvals of spot Bitcoin and Ethereum ETFs—prompted by legal pressure—have reignited hopes for broader crypto investment products.
However, regulatory hurdles remain, as Solana’s classification as a security remains a key debate.
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