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SEC Takes First Step on Invesco Galaxy Spot Solana ETF
- The SEC has acknowledged Invesco Galaxy’s filing for a Spot Solana ETF, which includes integrated staking features.
- The application was submitted via the Cboe BZX Exchange, triggering the start of the SEC’s full regulatory review.
- Solana’s price increased by more than 5% as investors reacted positively to the prospect of regulated access to the cryptocurrency.
The US Securities and Exchange Commission (SEC) has formally acknowledged the filing of the Invesco Galaxy Spot Solana ETF, marking a key procedural step in its potential approval. The proposed exchange-traded fund (ETF) is designed to track the spot price of Solana, while incorporating a staking feature to provide additional returns to investors.
Invesco and Galaxy Digital submitted the application on 25 June 2025 via the Cboe BZX Exchange, alongside a proposed rule change for listing and trading the ETF, which now triggers the SEC’s formal review process. This review encompasses evaluations of custody arrangements, market surveillance measures, and investor protection protocols.
Although no Solana ETFs have yet received approval from the SEC, a growing number of asset managers, including Bitwise, Grayscale, and Canary, have filed similar applications. Analysts expect the agency could issue approvals by October 2025, which would represent a significant step in integrating Solana into regulated financial markets.
Related: SEC’s Liquid Staking Guidance Sparks Internal Clash Over Clarity
Paving the Way for Mainstream Adoption
The filing has already had an immediate impact on market sentiment, with Solana’s price climbing by over five per cent following the announcement, reflecting investor optimism about regulated exposure to the cryptocurrency.
If approved, the ETF would offer both retail and institutional investors a structured vehicle to gain direct exposure to SOL, enhancing market accessibility and liquidity.
From a strategic standpoint, the Invesco Galaxy partnership seeks to replicate the earlier success of Bitcoin and Ethereum ETFs, potentially positioning the companies as leading players in regulated crypto investment products. By bridging innovation and regulation, the ETF could normalise institutional altcoin investment and contribute to broader participation in Solana’s ecosystem.
This acknowledgment from the SEC signals growing regulatory engagement with spot altcoin ETFs and reinforcing Solana’s status as a viable investment within traditional financial infrastructure.
Related: Ripple–SEC Legal Battle Ends as Both Sides Drop Appeals
Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
