Catenaa, Sunday, July, 06, 2025-Investment giant Invesco and crypto asset manager Galaxy Digital have filed with the US Securities and Exchange Commission to launch a Solana exchange-traded fund, intensifying the race to list the first US-regulated product tied to the popular blockchain network.
The proposed Invesco Galaxy Solana ETF would trade on the Cboe BZX Exchange under the ticker symbol “QSOL,” according to a registration statement filed last week.
Invesco Capital Management LLC is listed as the fund’s sponsor, while Galaxy will be responsible for acquiring SOL tokens. The Bank of New York Mellon will serve as administrator, and Coinbase Custody Trust Company has been tapped as the custodian.
The move places Invesco and Galaxy among a growing list of issuers seeking to bring Solana-based products to market.
Rivals VanEck, Bitwise and 21Shares have all submitted filings for Solana ETFs in recent months, riding a wave of optimism that the SEC under President Donald Trump’s administration may take a friendlier approach to crypto-linked financial instruments.
Following landmark approvals of spot Bitcoin and Ethereum ETFs, the SEC earlier this month asked Solana ETF issuers to amend their S-1 filings, a procedural step that has historically signaled potential regulatory clearance.
The latest filings come amid expanding interest in tokenized funds. Separately on Wednesday, Cboe BZX filed a Form 19b-4 for the Canary PENGU ETF, a first-of-its-kind product linked to the Ethereum-based Pudgy Penguins NFT project and its associated PENGU token.
