Invesco & Galaxy File Staking Spot Solana ETF
Invesco and Galaxy Digital have filed an S-1 with the U.S. SEC to launch a Spot Solana ETF (ticker QSOL) on Cboe BZX, marking the ninth Spot Solana ETF application. This follows the SEC’s request for all issuers to amend and refile S-1s by end-July as part of an accelerated review ahead of its October 10 decision deadline. The proposed Spot Solana ETF will track SOL and use staking to earn additional rewards, with BNY Mellon and Coinbase Custody appointed as custodian and administrator. Competing issuers—including VanEck, Bitwise, Grayscale and Fidelity—have also added in-kind creation/redemption and staking features. Polymarket data assigns a 99% probability of SEC approval by end-2025. Approval could trigger institutional FOMO, driving fresh SOL inflows. Separately, BlackRock currently targets Bitcoin and Ethereum ETFs but may expand into altcoin ETFs like XRP once the SEC’s Ripple case concludes.
Bullish
Approval prospects for a Spot Solana ETF with staking features are overwhelmingly positive, likely driving bullish momentum for SOL. In the short term, the filing by Invesco and Galaxy Digital amid an accelerated SEC review may spark FOMO among traders, increasing SOL trading volume and price volatility. The addition of staking mechanisms could further attract institutional capital seeking yield, strengthening demand. Over the long term, successful SEC approval would mark a regulatory milestone, broadening institutional access to SOL without custody burdens and potentially setting a precedent for other altcoin ETFs. Combined with high market confidence reflected in Polymarket’s 99% odds, this development supports a sustainable uptrend in SOL’s market performance.