Invesco Ltd. and Galaxy Digital LP have officially entered the race to launch the first Solana (SOL) exchange-traded fund (ETF) in the United States.
The firms filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on Wednesday for the Invesco Galaxy Solana ETF.
If approved, the fund would trade on the Cboe BZX Exchange under the ticker symbol QSOL.
Key Players in the ETF Structure
According to the filing:
- Invesco Capital Management LLC will serve as the fund sponsor.
- The Bank of New York Mellon will act as the administrator.
- Galaxy Digital will be responsible for acquiring and managing Solana (SOL) tokens.
- Coinbase Custody Trust Company, LLC will serve as the custodian of the underlying SOL assets.
Another Step Toward Mainstream Access to Solana
This latest filing positions Invesco and Galaxy among a growing list of issuers seeking to expand crypto ETF offerings beyond Bitcoin and Ethereum. Solana, known for its high-speed and low-cost transactions, has seen increasing interest from institutional investors and developers alike.
If approved, QSOL would be one of the first U.S.-listed products offering direct exposure to Solana, signaling a potential milestone in the integration of Layer 1 tokens into traditional investment vehicles.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/invesco-and-galaxy-digital-file-for-solana-etf-under-ticker-qsol/