Solana ETF Approval Nears as Invesco Galaxy Joins Race with Key SEC Filing

In a significant development for the cryptocurrency market, Invesco and Galaxy Digital have officially registered a Solana ETF Trust in Delaware, marking their entry into a competitive arena that includes major players like Grayscale, Fidelity, and VanEck. The filing, dated June 13, 2025, is a procedural precursor to an anticipated S-1 amendment with the SEC. Industry experts view this step as a strong indicator, with a 90% likelihood of approval by the end of the year. The SEC''s request for revisions on in-kind redemptions and staking mechanisms further underscores the regulatory body''s engagement with the proposal, signaling a potential green light for Solana''s ETF. This move could significantly boost Solana''s market position and investor confidence, as ETFs typically attract institutional investment and enhance liquidity. The cryptocurrency community is closely watching these developments, anticipating a positive outcome that could set a precedent for other digital assets.

Invesco Galaxy Registers Solana ETF as SEC Signals Likely Approval

Invesco and Galaxy Digital have formally registered a solana ETF Trust in Delaware, joining a competitive field that includes Grayscale, Fidelity, and VanEck. The filing, submitted June 13, precedes an expected S-1 amendment with the SEC—a procedural step that market participants interpret as a 90% likelihood of year-end approval.

The SEC''s request for revised language on in-kind redemptions and staking mechanisms suggests regulatory engagement rather than resistance. While the agency has never approved an altcoin ETF beyond Bitcoin and Ethereum, this development signals growing institutional demand for diversified crypto exposure.

Solana''s SOL Drops 8% Amid Market Volatility Despite Bullish $275 Year-End Target

Solana''s SOL token fell 7.87% to $147.07 in the past 24 hours, mirroring broader crypto market turbulence. The decline followed a sharp drop from its $159.60 opening price, briefly touching $142.13 before stabilizing. Trading volumes suggest tentative accumulation near support levels, but the token remains nearly 40% below its March peak.

Standard Chartered''s Global Research team projects a stark contrast to current prices, forecasting SOL at $275 by year-end and $500 by 2029. Their analysis highlights Solana''s technical advantages while acknowledging market skepticism about its meme-coin-driven activity. This divergence forces investors to weigh whether recent weakness reflects temporary volatility or fundamental concerns.

The bank positions SOL as a high-beta play on retail adoption, expecting near-term underperformance against ether but potential for dramatic re-rating if use cases expand beyond speculative trading. Price action remains volatile as the market digests these competing narratives.

Solana Whales Move $323 Million Off-Exchange Amid Market Panic

Solana''s SOL token plunged 10% to $140 on June 13 as geopolitical tensions triggered a market-wide selloff, liquidating $18 million in Leveraged positions. Beneath the surface, whale wallets shuffled 15% of SOL''s average daily volume — $323 million — entirely off-exchange.

Institutional activity diverged sharply from retail panic. Exchange data shows $35 million in net outflows despite the price drop, with $394.7 million leaving trading platforms versus $359.5 million entering. This stealth capital movement suggests either accumulation or portfolio rebalancing by crypto''s institutional class.

The timing underscores Solana''s growing institutional footprint. While retail traders fled, the network''s expanding DeFi ecosystem and high-throughput capabilities appear to be attracting sophisticated players who see value beyond short-term volatility.

Invesco and Galaxy Advance Solana ETF Plans with Delaware Trust Filing

Invesco and Galaxy Digital have moved closer to launching a Solana exchange-traded fund in the U.S., registering the Invesco Galaxy Solana Trust with Delaware''s Division of Corporations on June 12. The filing mirrors a strategic pattern seen in recent crypto ETF applications, where Delaware statutory trusts serve as precursors to SEC filings.

Market Optimism surrounds the potential approval, with Polymarket data showing a 91% probability of a Solana ETF launching by 2025. Regulatory discussions appear active—the SEC has requested updated S-1 filings from issuers within seven days, suggesting potential movement toward a July decision window.

The initiative follows the successful introduction of spot bitcoin ETFs earlier this year, with analysts viewing Solana as the next logical candidate for institutional crypto products. SEC scrutiny of staking mechanisms remains a key unresolved question that could shape the final product structure.

Solana Drops 10% Despite $5B Strategic Investment Plan

Solana (SOL) tumbled 10% on Thursday, defying expectations after DeFi Development Corporation (DFDV) announced a $5 billion equity line of credit for SOL accumulation. The Nasdaq-listed firm''s flexible capital-raising strategy failed to offset broader market pressures.

The equity line agreement with RK Capital Management allows gradual share issuance rather than a fixed-price offering. ''This structure lets us raise capital on favorable terms,'' DFDV stated, emphasizing the tactical approach to treasury growth. SEC approval of a resale registration remains pending.

Market reaction highlights the disconnect between institutional positioning and short-term price action. The withdrawn $1 billion Form S-3 filing underscores regulatory complexities in crypto financing vehicles.

Solana NFT Marketplace Solsniper Ends Operations After 3.5 Years

Solana-based NFT marketplace Solsniper is shutting down after three and a half years, marking the end of its operations on June 13, 2025. The platform will delist all NFTs and refund user bids, while preserving leaderboard data for potential future use.

The closure reflects a strategic pivot away from NFTs, with the company shifting focus toward AI tools, Telegram bots, and memecoin trading terminals. This MOVE coincides with a broader downturn in the NFT market, where trading volumes have plummeted 63% since December 2024.

"We started Solsniper as an analytics tool for NFT traders," the team stated in a farewell message. Over its lifespan, the platform evolved into a multifaceted ecosystem featuring a mobile app, NFT aggregator, marketplace, and launchpad—all now winding down as the Web3 landscape continues its rapid evolution.