Invesco, Galaxy Register Solana Trust in Delaware

Invesco and Galaxy Asset Management have filed a registration for a Solana trust in Delaware, initiating steps for a prospective Solana Exchange-Traded Fund (ETF) in the U.S.

This development reflects increased interest in Solana as institutional interest grows, potentially affecting Solana’s market appeal and the broader digital asset landscape.

Invesco and Galaxy Asset Management have taken a preparatory step by filing a trust registration in Delaware. This move is crucial in launching a Solana ETF in the United States, following similar strategies previously employed for Bitcoin and Ethereum ETFs. The trust’s establishment is a foundational step that enables the initiation of the SEC filing process.

Both Invesco and Galaxy have extensive experience in digital asset management, having previously launched spot Bitcoin and Ethereum ETFs. Their collaboration signifies a growing interest in expanding into Layer 1 digital assets beyond just Bitcoin and Ethereum, showcasing a broader strategic market approach. These actions pave the way for enhanced exposure to Solana, providing greater opportunities for investors.

Market observers anticipate that the formal introduction of a Solana ETF could lead to higher trading volumes and potential price movements for Solana (SOL). Historically, news around ETF proposals often impacts trading behavior, usually leading to increased interest and speculative activities around the asset in question.

There’s a 90% chance of Solana ETF approval this year, given the SEC’s ongoing engagement with issuers.
— Eric Balchunas, ETF Analyst, Bloomberg

Financial experts note that a Solana ETF would mark an expansion of available investment products, granting institutional investors easy access to Solana. The regulatory environment appears more receptive to crypto ETFs, indicated by the SEC’s ongoing dialogues with issuers and the possible introduction of additional digital asset ETFs in the coming weeks.

If approved, this ETF could mirror previous trajectories observed with Bitcoin and Ethereum ETFs, where asset inflows and price surges became notable following SEC approvals. Historical trends suggest that the launch of a successful Solana ETF could result in significant interest, aligning Solana alongside other established digital assets in mainstream investment portfolios.