Invesco has officially filed for a Solana ETF, intensifying calls for SEC approval as institutional interest in SOL continues to grow.
Global asset management firm Invesco has become the latest heavyweight to enter the Solana ETF race, filing a proposal with the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund that directly tracks the price of Solana (SOL). The move, announced via a June 26 filing, adds fresh urgency to the regulatory agency’s ongoing review of altcoin-based ETFs.
The proposed product, named the Invesco Galaxy Solana ETF, would trade under the ticker QSOL on the Cboe BZX Exchange, with Coinbase Custody safeguarding the SOL assets and Bank of New York Mellon acting as the fund’s administrator. In addition to holding SOL directly, the fund could stake a portion of its holdings to generate token rewards, which would be treated as trust income.
The filing arrives as Invesco becomes the ninth issuer to seek SEC approval for a Solana ETF, joining firms like VanEck, Grayscale, Bitwise, Fidelity, and Franklin Templeton, signaling rising confidence in Solana’s role in institutional portfolios.
While the SEC has so far only approved spot ETFs for Bitcoin and Ethereum, Bloomberg ETF analysts James Seyffart and Eric Balchunas believe there is a 90%+ probability that the commission will greenlight a Solana ETF by Q3 or Q4 of 2025, with a decision on the horizon as early as July.
Solana’s Momentum on CME Points to ETF Launch Around the Corner
The momentum behind Solana ETF filings reflects a surge in institutional interest in the network, which is currently the sixth-largest cryptocurrency by market capitalization. A recent uptick in Solana futures activity on CME, with open interest topping $146 million, further underscores growing institutional exposure.
Market commentator Cas Abbe stated that approval expectations have yet to be fully factored into the market’s pricing. According to the analyst, renewed buying activity is a positive signal, reinforcing confidence in SOL’s short-term outlook. With anticipation mounting, the analyst predicts a strong rally could unfold as early as next month.
As the SEC collects updated filings and public feedback from issuers, the stage is set for a pivotal few months that could broaden the landscape of regulated crypto investment products.
