Solana ETF: Invesco and Galaxy register fund in Delaware in the US

• Invesco and Galaxy register Solana ETF in the US
• SEC May Approve Solana ETF in Coming Weeks
• Institutional interest in Solana grows among large asset managers

Invesco, in partnership with Galaxy Asset Management, has filed a preliminary registration for a Solana (SOL)-based trust fund in the state of Delaware, United States. The move represents the first formal step in the process of structuring a spot ETF for the Solana cryptocurrency, signaling a possible imminent filing with the U.S. Securities and Exchange Commission (SEC).

With this initiative, Invesco and Galaxy join a growing group of asset managers seeking to offer financial products linked to the digital asset SOL. Competitors already positioned include Grayscale, VanEck, Bitwise, 21Shares, Canary Capital, Fidelity and Franklin Templeton. The only major absence so far is BlackRock.

According to market reports, the SEC is in the process of reviewing documents related to Solana ETFs. The issuers have reportedly received requests to update their S-1 statements, an indication that the regulatory agency may be willing to review and eventually approve the requests within a period of three to five weeks.

Additionally, reports suggest that the SEC would be open to discussing the structure of the funds with proponents, signaling a possible step forward in the regulatory treatment of ETFs based on altcoins beyond Bitcoin and Ethereum.

Exchange-traded fund analysts such as Bloomberg’s Eric Balchunas and James Seyffart estimate that the probability of ETFs for Solana and Litecoin being approved in 2025 is around 90%. In the same report, XRP ETFs are given an 85% chance of approval.

Conversations around the nuances of staking solana in ETFs are getting underway between SEC and hopeful Solana ETF issuers 👀 https://t.co/ULe881UjYN

—James Seyffart (@JSeyff) June 10, 2025

Solana currently ranks fifth by market cap among crypto assets excluding stablecoins. The SOL token is trading at around $147, down 7% over the past 24 hours, according to data from CoinGecko.

This move by Invesco and Galaxy could cement institutional interest in Solana as a go-to asset in traditional capital markets, expanding regulated cryptocurrency exposure options for U.S. investors.