On June 26, 2025, Invesco and Galaxy Digital filed for regulatory approval to launch the Invesco Galaxy Solana ETF. The ETF aims to track the spot price of Solana (SOL), the sixth-largest cryptocurrency by market capitalization. This is the ninth filing for a Solana-tracking ETF, following the success of Bitcoin ETFs in early 2024.
The proposed ETF will directly hold Solana and trade on the Cboe BZX exchange under the ticker "QSOL" if approved. The firms will submit a Form 19b-4 to the SEC. The SEC has not yet approved any Solana ETFs as of June 26, 2025.
This move reflects growing institutional interest in altcoins, spurred by the success of Bitcoin ETFs. The approval of the Solana ETF would offer a regulated way to invest in Solana. The SEC's decision is pending, and the timeline for approval is uncertain.