Cboe BZX Exchange has filed to listing the Invesco Galaxy Solana ETF, aiming to supply regulated entry to SOL with built-in staking rewards, simply weeks after the primary U.S. Solana Staking ETF launched.
Invesco Galaxy Solana ETF Brings Spot Exposure
The Invesco Galaxy Solana ETF has been proposed to the U.S. Securities and Exchange Commission to be listed on Cboe BZX Exchange. The SEC filing notes that the ETF is a commodity-based belief underneath BZX Rule 14.11.
The ETF would supply buyers direct publicity to the spot worth of Solana by holding precise SOL tokens. The belief may also stake a portion of its SOL holdings utilizing trusted suppliers, producing staking rewards. These rewards could also be handled as revenue for the fund.
If accepted, the Invesco Galaxy Solana ETF would change into one of many earliest Solana spot ETFs obtainable within the United States. It follows the launch of the REX–Osprey Sol + Staking ETF (SSK), which started buying and selling on Cboe as the primary spot SOL ETF with staking assist.
Like SSK, the Invesco ETF is designed as a grantor belief and won’t register underneath the Investment Company Act of 1940. It may also not be regulated as a commodity pool. The ETF will use the Lukka Prime Solana Reference Rate to trace the asset’s worth.
The pricing information may also be refreshed each 15 seconds utilizing the information of the preferred exchanges, notably Binance, Coinbase, Kraken, and OKX. The sponsor can be Invesco Capital Management and administration and distribution can be managed by Fidelity.
Storing of the SOL within the fund can be managed by a third-party custodian the place segregated and chilly wallets can be used to make sure the most effective safety. The ETF will enable each money and in-kind creations and redemptions.
Cboe Cites SOL’s Market Integrity in ETF Bid to SEC
Cboe BZX argues within the submitting that Solana is proof against manipulation. The trade factors to SOL’s world 24/7 market, fragmented liquidity, and $2 billion common each day buying and selling quantity.
It provides that the token’s decentralized design, arbitrage mechanisms, and lack of insider data additional cut back fraud dangers. This Solana ETF submitting depends on the identical regulatory logic utilized in earlier approvals for spot Bitcoin and Ethereum ETFs.
Cboe notes that Solana futures contracts started buying and selling on CME in March 2025 however haven’t but reached the “significant size” customary. The ETF will present regulated entry to Solana to buyers with out self-custody and publicity to offshore platform danger.
It may also reduce monitoring errors witnessed in OTC merchandise of crypto. The step is a sign of an growing development towards making main altcoins extra accessible on American exchanges by way of ETF. SOL price is at present $184.23, in keeping with CoinMarketCap information, down 1.3% within the final day.
Paul
Paul Adedoyin is a crypto journalist with 4+ years expertise who supplies well timed information, in-depth analysis, and insightful content material to tell and empower his viewers. His works have been featured on websites equivalent to CryptoMode, CryptoNewsFlash amongst others.
He holds a level in Geophysics from OAU, Nigeria. When he isn’t writing, he loves watching soccer and studying educative journals.
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