Cboe Files with SEC to List Invesco Galaxy Solana ETF

Cboe BZX Exchange has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to list the Invesco Galaxy Solana ETF, signaling a growing trend toward offering regulated investment vehicles for major altcoins.

This move comes just weeks after the launch of the first U.S. Solana staking ETF, highlighting the increasing demand for accessible and regulated exposure to SOL within the American market. The SEC filing indicates that the proposed ETF will operate as a commodity-based trust under BZX Rule 14.11.

Cboe Files to List Invesco Galaxy Solana ETF

The Invesco Galaxy Solana ETF aims to provide investors with direct exposure to Solana’s spot price by holding actual SOL tokens. The ETF plans to stake a portion of its SOL holdings with trusted providers, aiming to generate staking rewards that will become income for the fund.

Additionally, this staking mechanism provides investors with the opportunity to earn passive income on their SOL holdings within a regulated framework.

Furthermore, if approved, the Invesco Galaxy Solana ETF would be one of the first of its kind in the United States following the recent launch of the REX–Osprey Sol + Staking ETF (SSK), which was the first spot SOL ETF with staking support to start trading in the U.S. Like SSK, the Invesco ETF will be set up as a grantor trust.

The ETF will not register or regulate under major financial laws for investment companies or commodity pools. It will use the Lukka Prime Solana Reference Rate to follow the asset’s value. Price data will be updated every 15 seconds using data from major exchanges, including Binance, Coinbase, Kraken, and OKX. Invesco Capital Management will sponsor the ETF, and Fidelity will administer and sell it.

Cboe ETF Aims to Ease Investing

However, a separate company will secure the SOL using special offline wallets. The ETF will enable investors to easily buy or sell shares using cash or actual SOL tokens, providing them with a range of options.

Interestingly, Cboe BZX informed the SEC that manipulators are unlikely to target Solana, citing its global, continuous market, dispersed trading activity, and approximately $2 billion in daily trading volume as reasons.

Cboe noted that Solana futures started trading on CME in March 2025 but haven’t reached a “significant size” yet. The proposed ETF aims to provide investors with a secure way to invest in Solana, eliminating the need for them to manage the tokens themselves and reducing risks associated with foreign trading sites.

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