Invesco and Galaxy Digital have jointly registered a Solana (SOL) ETF Trust as a statutory trust in Delaware, marking an important preparatory step towards launching a regulated Solana ETF for U.S. investors. While this registration does not constitute an approval or immediate product launch, it lays the legal groundwork necessary for potential SEC filings and subsequent regulatory review.
This initiative represents a strategic expansion beyond their previous Bitcoin and Ethereum ETF ventures, highlighting growing institutional interest in altcoin-based investment vehicles. Both Invesco, a global investment manager, and Galaxy Digital, a crypto-focused financial services firm, aim to leverage their past ETF experience to facilitate institutional capital inflows if the ETF gains regulatory approval.
To date, there have been no public comments from Invesco or Galaxy Digital executives, nor from regulatory authorities, regarding the registration. The crypto market has not shown immediate impact or significant trading changes related to Solana following the registration. The move aligns with industry trends seeking greater regulated exposure to altcoins, potentially broadening market access contingent on future SEC approval.
If successfully launched, the Solana ETF could mirror prior successes of Bitcoin and Ethereum ETFs and herald increased institutional trust and participation in Solana and the wider altcoin market.