SEC Opens Comment Period for Invesco Galaxy Spot Solana ETF
The U.S. Securities and Exchange Commission has formally accepted Invesco Galaxy’s S-1 registration for a spot Solana ETF, opening a public comment period after a Form 19b-4 filing on the Cboe BZX Exchange. The proposed Solana ETF would track the spot SOL price, feature a staking provision to boost yields and list on the Cboe BZX Exchange upon approval. This filing joins eight peer applications from VanEck, Bitwise, Grayscale, Canary Capital, CoinShares, Franklin Templeton, Fidelity and 21Shares. Recent minor amendments across these documents suggest coordination with the SEC on structure and disclosures. Analysts point to strong regulatory momentum under Chair Paul Atkins and CME-listed Solana futures as supports, although ongoing debates over SOL’s classification may affect timing. Market observers now expect a decision by late August or September, marking a pivotal milestone for the emerging Solana ETF market.
Bullish
The SEC’s acceptance of Invesco Galaxy’s spot Solana ETF filing and the opening of a public comment period alongside eight other applications underscores growing regulatory support for SOL-based investment products. In the short term, approval anticipation is likely to drive increased trading volume and positive sentiment for SOL, as traders position ahead of a potential launch and staking benefits. In the long term, a successful launch would broaden institutional access, improve liquidity, and stabilize price performance by attracting diversified capital. However, classification debates could introduce timeline uncertainty, possibly causing minor volatility. Overall, improved regulatory clarity and ETF exposure are expected to have a net bullish effect on SOL.