BREAKING: SEC Greenlights Invesco Galaxy’s Spot Solana ETF—Crypto’s Next Big Leap?

The SEC just dropped a bombshell—Invesco Galaxy's Spot Solana ETF application is officially in play. Move over, Bitcoin and Ethereum; Solana's gunning for the institutional big leagues.

Why this matters: Wall Street's warming up to altcoins faster than a VC dumping tokens post-lockup. With Solana's blistering speed and NFT pedigree, this ETF could be the Trojan horse for mainstream crypto adoption—or just another vehicle for hedge funds to manipulate volatility.

The cynical take? Watch how fast the same financiers who called crypto a 'scam' in 2022 start shilling SOL as a 'mature asset class.'

The US Securities and Exchange Commission gave regulatory greenlight to another crypto ETF. It accepted the filing for Invesco Galaxy Spot solana ETF, a proposed exchange-traded fund (ETF) designed to track the spot price of Solana (SOL).

SEC Acknowledges Filing for Invesco Galaxy Spot Solana ETF

Invesco Galaxy Solana ETF initially filed an application on June 25, 2025, via Cboe BZX, targeting spot exposure with integrated staking rewards. Unlike Bitcoin or ethereum ETFs, this fund specifically tracks the spot price of SOL, a leading Layer 1 blockchain known for its speed and scalability. 

The acknowledgement initiates the form’s review, including examinations of custody arrangements, market surveillance, and investor protection measures. This comes after the Cboe BZX exchange submitted a FORM 19b-4. It proposed a rule change for listing and trading the ETF, which initiates the SEC’s formal review process. 

When Will the SEC Approve SOL ETFs?

Currently, multiple institutional and mainstream investors are seeking diversified crypto exposure with SOL. VanEck Trust, 21Shares Core, Bitwise, Grayscale, Canary, Franklin Templeton, Fidelity, REX Shares, and Galaxy Digital have filed for the SOL ETF. 

However, the SEC has not approved any SOL ETF applications. The expected time for approval is October 2025. If approved, it will establish Solana as a legitimate mainstream asset in traditional financial markets. 

The acknowledgment for Invesco Galaxy Spot Soana ETF  is an important procedural milestone that initiates the SEC’s formal review process. Though it does not yet mean the ETF is approved for launch.

What Does This Mean for Invesco Galaxy?

Despite not being officially approved yet, this filing signals a positive development for the company. The collaboration of Invesco and Galaxy Digital aims to capture opportunities in the crypto ETF market, following Bitcoin and Ethereum ETFs prior success. 

The formal approval could enhance the companies’ position as a key player in crypto-related investment products. It can also potentially increase investor engagement in Solana through a regulated vehicle.