Invesco registers Solana ETF in Delaware, signaling plans to offer SOL exposure as it joins the growing list of firms backing Solana funds.
Invesco is poised to become the most recent fund manager to participate in the Solana ETF trend.
Galaxy Digital has collaborated with the company to establish a SOL ETF in Delaware.
The S-1 and Form 19b-4 filings with the SEC are anticipated to occur shortly.
Solana ETF Is Implemented By Invesco In Delaware
Data from the Delaware Division of Corporations indicate the ‘Invesco Galaxy Solana ETF’ registration.
This suggests that the asset manager of Invesco plans to offer a fund to expose investors to SOL.
This action typically precedes the submission of an S-1 and 19b-4 filing to the US Securities and Exchange Commission (SEC).
The S-1 is anticipated to be submitted by the firm shortly, and an exchange has been filed to list and trade shares of the Solana ETF.
In conjunction with Galaxy Digital, Invesco will provide this particular fund.
Additionally, the two have collaborated to give the Invesco Galaxy Bitcoin and Ethereum spot ETFs.
This development coincides with CoinGape’s announcement that the SEC may approve the SOL ETFs shortly.
The Commission has requested that certain issuers modify their S-1 forms, and it is anticipated that approval will be granted within the next few weeks.
The SEC can approve these funds simultaneously, as with the Bitcoin and Ethereum spot ETFs.
21Shares, Van Eck, and Canary Capital, which are the issuers of crypto exchange-traded funds (ETFs), recently requested that the Securities and Exchange Commission (SEC) reinstate the “first-to-file” principle to preserve a competitive and dynamic financial market.
Nevertheless, the SEC has not yet responded to this request. Intriguingly, these asset managers were among the first to apply for a Solana ETF.
The SEC’s ultimate deadline for a decision on the SOL ETFs is October 10. Grayscale, Van Eck, Canary Capital, and 21Shares’ ETFs could be the first to launch in that order if the SEC reinstates the first-to-file principle.
