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Invesco and Galaxy File for Solana ETF with CBOE

Invesco Galaxy's application for a Solana ETF underscores the growing demand for cryptocurrency investment products, pending SEC approval.

SOL

Summary

Invesco Galaxy has applied to the Cboe BZX Exchange for the Invesco Galaxy Solana ETF, which will track the spot price of Solana (SOL) and operate as a trust. The fund's assets will include SOL, cash, and equivalents, with some SOL permitted to be staked for rewards. The application is currently awaiting approval from the U.S. Securities and Exchange Commission (SEC).

Terms & Concepts
  • Solana ETF: An exchange-traded fund designed to track the performance of Solana (SOL), allowing investors to gain exposure without directly holding the cryptocurrency.
  • Cboe BZX Exchange: A stock exchange that facilitates the trading of ETFs and other securities, known for its role in the U.S. financial markets.