Invesco Galaxy Solana ETF Filing

Invesco Capital Management LLC has submitted an S-1 filing with the U.S. Securities and Exchange Commission (SEC) for the Invesco Galaxy Solana ETF.

The fund is anticipated to be listed on the Cboe BZX exchange and will reportedly use the Lukka Prime Solana Reference Rate as a benchmark to track Solana’s (SOL) spot price performance.

Implications for Crypto Investment

This development could signal a new era for crypto investment products on Wall Street. Bloomberg’s senior ETF analysts Eric Balchunas and James Seyffart predict that spot ETFs for Solana, XRP, and Litecoin have a 95% chance of approval by the end of 2025. Additionally, applications for altcoins like Dogecoin, Cardano, Polkadot, Hedera, and Avalanche are thought to have a 90% chance of approval by the end of the year.

If approved, these altcoin ETFs would represent the largest expansion in crypto investment products since Bitcoin and Ethereum spot ETFs. Currently, the SEC has only approved spot ETFs for these two assets, marking a potential historic turning point for crypto markets.

The success of spot Bitcoin ETFs has facilitated new applications, managing over $100 billion in assets. BlackRock’s iShares Bitcoin Trust (IBIT) has reached $70 billion, making it the fastest-growing ETF in history.

*This is not investment advice.