99% Approval Odds? How Close Are We to Spot Solana ETF Launch in US?

The race to bring a spot Solana ETF to the U.S. market is on full fire, and the investors are watching the SEC’s every step closely. With multiple applications under review and the launch of the staking-enabled SOL ETF in the market, the approval odds for potential spot launch have surged 99% on betting platforms. Now, as the SEC acknowledges the Invesco Galaxy filing, how close are we to the actual launch? Let’s discuss.

Spot Solana ETF Approval Odds Stand at 99%

Polymarket and other similar sites clearly showcase investors betting on the high approval odds of the Spot Solana ETF in 2025. The 99% breakthrough for this anticipation came after the launch of the REX-Osprey Solana + Staking (SSK) exchange-traded fund, which went live earlier in July. 

CoinGape experts reported that the SSK ETF went live on July 2 and gained more than $20 million in trading volume on the first day alone. As a result, investors’ prediction for the proper spot one’s launch skyrocketed, hitting 99% plus.

Notably, the odds have been persistent ever since then, and investors show high anticipation of the SOL ETF launch this year. Besides, the high Ethereum ETF inflows and the digital asset’s performance these days are increasing the demand for approval.

SEC Acknowledges Invesco Galaxy Spot Solana ETF, Approval Next?

Adding to the list of spot Solana ETF filings, Invesco and Galaxy Digital also jointly filed for one in June 2025. After nearly two months, the SEC has finally acknowledged the filing, which means that the review process for this will begin now, and the SEC will make a decision soon.

Interestingly, ETF experts like James Seyffart, Eric Balchunas, and others have presented a potential approval of these SOL ETFs as early as October 2025. However, the uncertainty still exists as the SEC has delayed their decision on most of the filings.

The SEC’s “Listing Standards” for crypto ETPs is out via new exchange filing. BOTTOM LINE: Any coin that has futures tracking it for >6mo on Coinbase’s derivatives exchange would be approved (below is list). It’s about a dozen of the usual suspects, the same ones we had at 85% or… https://t.co/QlzZnta7Yv pic.twitter.com/CmBr8XxAcM

— Eric Balchunas (@EricBalchunas) July 30, 2025

In the list, there are Fidelity, VenECK, Bitwise, and a bunch of others, including Grayscale, which has applied to change its GSOL Solana Trust into an ETF. 

Notably, no announcement on the potential approval date by the SEC has been made up to now. However, their request for issuers to update their S-1 filing indicates that they are seriously analyzing these filings.

Considering these events and high odds, the ETFs could get approval soon. 

Pooja Khardia

Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.

Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.

Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry.

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