Invesco & Galaxy File Staking Spot Solana ETF
Invesco and Galaxy Digital don file S-1 wit di U.S. SEC to launch Spot Solana ETF (ticker QSOL) for Cboe BZX, dis na di nine Spot Solana ETF application wey dem don make. E follow SEC request say make all di issuers amend and refile dia S-1 by end-July as part of accelerated review before di October 10 decision deadline. Di Spot Solana ETF wey dem propose go track SOL and use staking to collect extra rewards, with BNY Mellon and Coinbase Custody as custodian and administrator. Di competition issuers like VanEck, Bitwise, Grayscale and Fidelity don also add in-kind creation/redemption and staking features. Polymarket data yan say SEC approval get 99% chance to happen before end of 2025. If approval happen, e fit make institutional FOMO start, push new SOL inflow. Separately, BlackRock dey target Bitcoin and Ethereum ETFs now but fit expand to altcoin ETFs like XRP once SEC case for Ripple finish.
Bullish
Di chance for them approve Spot Solana ETF wey get staking features na very positive, e fit carry bullish momentum come for SOL. Short term, Invesco and Galaxy Digital wey dem file dia application during accelerated SEC review fit make traders get FOMO, wey go increase SOL trading volume and price wahala. The staking features fit also attract institutional money wey dey find yield, to make demand strong. Long term, if SEC approve am well, e go be big regulatory step, e go broad institutional access to SOL without custody wahala and fit set example for other altcoin ETFs. Plus with market confidence wey Polymarket show as 99% odds, dis development mean say SOL market performance fit get better and steady uptrend.