Invesco and Galaxy Digital have taken a concrete step to bring a Solana Exchange-Traded Fund (ETF) to the American market.
Public records Show that the companies registered a trust on 12 June with the name Invesco Galaxy Solana ETF with Delaware’s Division of Corporations.
In recent months, various companies have set up Delaware Statutory Trusts before they ask the US Securities and Exchange Commission (SEC) approval to launch a crypto ETF. This structure offers a legal framework and signals that both supervisors and investors intend.
If Invesco and Galaxy continue as expected, the next milestone will submit an S-1 registration statement to the SEC.
This submission would formally initiate the legal assessment process that is necessary to state the product at a national stock exchange.
Solana Etf Momentum builds
Invesco and Galaxy’s Trust Registration comes when Momentum builds up around a possible approval for a Solana ETF product.
Facts From the Polymarket forecast market, a probability of 91% shows that such a product will receive approval in 2025. The optimism follows reports that suggest that the SEC can alleviate the first Solana ETFs in July.
The SEC has asked potential issues to update their S-1 files within a week. This request points to an active dialogue between the regulator and market participants.
Moreover, the discussions are reportedly also included whether they can allow limited deployment functionality within approved ETFs, a function that could improve the efficiency of investors.
So, if the ETF safe approval, the product would enable investors to get exposure to the price performance of Solana through a regulated vehicle, without direct custody or purchase of the digital active.
However, the level of investors’ demand remains uncertain. Bloomberg ETF analyst Eric Balchunas noted That although the product is likely to put on some inflow, it is unlikely that they match the scale of the question that is seen with Bitcoin ETFs.
Balchunas noticed at ::
“The further you get from BTC, the fewer assets there will be.”
