TLDR
- Invesco and Galaxy Digital File Solana ETF Trust in Delaware
- Solana ETF Progresses with New Delaware Trust Filing
- Spot Solana ETF on the Horizon as Trust Filing Goes Live
- Solana Gains ETF Momentum Despite No U.S. Approval Yet
- Institutional SOL Access Advances with New ETF Trust Move
Invesco and Galaxy Digital have officially moved to establish a Solana ETF through a statutory trust registration in Delaware. The move signals early-stage preparations to launch a spot for the Solana exchange-traded fund in the United States. The trust, filed on June 12, 2025, lays the foundation for formal regulatory submissions.
Solana ETF Trust Marks Regulatory Entry Point
Invesco and Galaxy Digital filed the “Invesco Galaxy Solana Trust” under Delaware’s Division of Corporations as a domestic statutory trust. Asset managers commonly use this structure to prepare for SEC filings before official ETF launches. The trust does not confirm SEC approval but enables firms to begin the regulatory process.
Invesco and Galaxy finalize Solana ETF registration in Delaware
Invesco and Galaxy have officially registered a Solana $SOL ETF entity in the state of Delaware, according to @solidintel_x on X.
— CoinNess Global (@CoinnessGL) June 13, 2025
The registration acts as a precondition for a future Form S-1 filing with the U.S. Securities and Exchange Commission. This form is required to seek authorization to offer shares of the proposed ETF to the public. Besides, the asset managers will likely pursue a 19b-4 submission through a national securities exchange.
The registration approach reflects industry trends as firms aim to broaden ETF offerings beyond Bitcoin and Ethereum. It also signals increasing institutional interest in Solana despite regulatory limitations. However, spot ETFs for assets other than Bitcoin and Ethereum remain unapproved in the U.S. at present.
Solana Gains Institutional Attention Through ETF Plans
Solana, currently the fifth-largest digital asset by market value, remains a high-demand token among institutional and retail investors. A spot ETF will provide investors with regulated exposure to SOL without crypto wallets. This vehicle would simplify access for firms restricted from holding digital assets directly.
Invesco and Galaxy Digital aim to serve demand for Solana exposure while avoiding direct token custody. The proposed ETF intends to track Solana’s price performance using an index or physical token backing. Such structures align with existing spot ETF models used for Bitcoin and Ethereum.
While this filing does not guarantee approval, it adds momentum to the growing list of digital asset ETF applications. Other asset managers like VanEck, Bitwise, and 21Shares have also filed for similar crypto ETFs. These actions indicate competition to capture market share as institutional interest in altcoins expands.
Market Conditions Reflect Stronger Push for Altcoin Products
The timing of the Solana trust comes amid broader ETF-related activity in the cryptocurrency sector. Recent filings suggest increased confidence among asset managers despite current regulatory uncertainty surrounding non-Bitcoin ETFs. Additionally, Solana’s market activity has positioned it as a strong candidate for future ETF inclusion.
Despite an ongoing 9% decline in SOL’s market value, investor demand for indirect access remains steady. The ETF product could offer a more secure and regulated alternative to direct token investment. Moreover, financial firms appear optimistic about Solana’s role in long-term blockchain adoption.
The trust registration signals the start of a lengthy review process that may take months or years. However, the filing alone increases Solana’s visibility among regulators, financial institutions, and prospective investors. The next significant step will be the formal S-1 registration, which will determine whether the ETF gains SEC consideration.
