Investeco, Galaxy Digital File to start Solana ETF in Delaware in the middle of Sec approval buzz

Invesco and Galaxy Asset Management, the Galaxy Digital Fund Management Foundation, has submitted to register a confidence in Delaware for a proposed Solana ETF, an important early step towards starting the fund. The notification indicates that a formal SEC application may be imminent.

When Invesco and Galaxy Asset Management submit a formal application to the SEC, the companies officially will join the growing list of asset managers who want to start a Spot Solana ETF in the United States.

So far, the list contains gray scale, Vanecke, bit by 21Shares, Canary Pap head, Franklin Templeton and faithfulness. In fact, almost all fund managers who offer us-listed Tot Bitcoin and Ethereum ETFS are now conducting a solar-based counterpart, except Blackrock.

The latest movement from Invesco and Galaxy comes in the midst of growing optimism about potential SEC approval of Spot Solana ETFs. Momentum picked up this week after reports that SEC had directly engaged with ETF issuers and instructed them to submit revised S-1 registration statements.

The requested audits indicate possible fast tracking of the approval process, which some sources believe may conclude within three to five weeks. SEC has also reportedly signaled its openness to do within the ETF structure.

Bloomberg ETF analyst Eric Balchunas and James Seyffart estimate 90% chance of approval for Solana and Litecoin ETFS this year and placed them at the top of their list. XRP ETFs follow closely with approval odds of approximately 85%.

I also wrote about this topic a little today. Can be read on this link here if you are a Bloomberg terminal client:https://t.co/tl3xfnq2am pic.twitter.com/jaq048EWDR

– James Seyffart (@jseyff) June 10, 2025

Solana rank fifth of market cases, excluding Stablecoins. Sun is traded to approximately $ 147 at the time of reporting, down 7% over the past 24 hours, per coyecko data.