Invesco and Galaxy Digital aim to launch a Solana-tracking ETF, amid increasing interest in altcoins.
From Cointelegraph
June 25, 2025 7:32 PM:
Nine asset managers are seeking to launch an ETF tracking Solana, with Invesco and Galaxy Digital proposing the Invesco Galaxy Solana ETF to track the spot price of SOL, the sixth-largest cryptocurrency. This is the ninth filing for a Solana-tracking ETF, with other firms like VanEck and Grayscale also in the mix.
Invesco and Galaxy’s filing details their plan for the ETF to directly hold Solana, following the same approach as other competing ETFs. If approved, the ETF would trade on the Cboe BZX exchange under the ticker “QSOL.” The firms will need to submit a Form 19b-4 for the SEC to consider approving the ETF.
The Trump administration’s promise to ease regulations on crypto has sparked optimism in the sector, leading to new highs for Bitcoin and increased investments in long-term Bitcoin holdings by public companies. This move towards altcoins like Solana comes after successful Bitcoin ETF launches in early 2024 and milder wins for Ether-linked funds later that year.
As more asset managers enter the race to launch a Solana-tracking ETF, the market’s appetite for altcoins is being tested beyond traditional options like Bitcoin and Ethereum. The industry is evolving rapidly, with firms like Invesco looking to diversify their offerings and provide investors with exposure to a wider range of cryptocurrencies.
Read more at Cointelegraph: Invesco, Galaxy File For Spot Solana ETF As 9th Bidder