Key Highlights
- SEC has taken the first step by acknowledging the Invesco Galaxy Spot Solana ETF filing
- Unlike Bitcoin ETFs, this fund plans to stake SOL for additional yield
- Analysts predict a 90% chance of Solana ETFs being approved.
The U.S. Securities and Exchange Commission (SEC) just moved closer to making history. On August 13, the agency officially acknowledged the filing for the Invesco Galaxy Spot Solana ETF, sparking euphoria in the Solana community.
INTEL: SEC ACKNOWLEDGES FILING FOR INVESCO GALAXY SPOT $SOL ETF
— Solid Intel 📡 (@solidintel_x) August 13, 2025
While this does not mean approval is guaranteed, it is a crucial first step. One can think of it like a college application getting past the initial review. It still has a long way to go, but at least it’s in the system.
The SEC will now dig into the details, checking if the proposed ETF follows all the rules before giving it the green light.
First Solana ETF Approval Soon?
If approved, this ETF would let everyday investors buy into Solana (SOL), which is the sixth-largest cryptocurrency, without actually holding the digital asset themselves.
Instead of worrying about wallets, private keys, or staking setups, they’d just trade shares under the ticker “QSOL” on the Cboe BZX Exchange, just like stocks.
Unlike Bitcoin or Ethereum ETFs, this one has a unique twist. The fund plans to stake a portion of its SOL holdings, meaning it could earn extra yield by helping secure Solana’s blockchain. That’s like getting interest on your savings, but in crypto terms.
Staking and the SEC’s New Stance
Speaking of staking, the SEC recently dropped a bombshell that could make this ETF’s path smoother.
Earlier in August, the agency clarified in a detailed statement that certain types of liquid staking, where users lock up crypto to earn rewards, don’t automatically count as securities.
SEC stated in the official press release,“the statement clarifies the division’s view that, depending on the facts and circumstances, the liquid staking activities covered in the statement do not involve the offer and sale of securities within the meaning of Section 2(a)(1) of the Securities Act of 1933 or Section 3(a)(10) of the Securities Exchange Act of 1934.”
The process has to be completely automated, with no middleman making investment decisions. For the Invesco Galaxy ETF, this is huge. Since Coinbase Custody would handle the staking mechanically (no human picking winners or promising profits), regulators might see it as kosher.
“Under my leadership, the SEC is committed to providing clear guidance on the application of the federal securities laws to emerging technologies and financial activities,” Chairman Paul S. Atkins stated. “Today’s staff statement on liquid staking is a significant step forward in clarifying the staff’s view about crypto asset activities that do not fall within the SEC’s jurisdiction. I am pleased that the SEC’s Project Crypto initiative is already producing results for the American people.”
Don’t Celebrate Too Early
The SEC’s statement is not a blanket approval, just a hint at how they might view these cases. If the ETF starts getting too fancy with its staking strategy, like chasing the highest-yielding validators, the SEC could still slam the brakes.
This isn’t just about Solana. It is part of a bigger trend where regulators are slowly warming up to crypto investment products. After approving Bitcoin ETFs earlier this year and Ethereum ETFs soon after, the SEC is now eyeing altcoins.
At the time of writing, Solana (SOL) is trading at around $200.94 with a 19% hike in a day. It is holding an impressive market capitalization of $108.44 billion, according to CoinMarketCap.
Analysts like Bloomberg’s James Seyffart give this Solana ETF a 90% chance of approval by October, partly because Solana already has futures trading on the CME, a factor the SEC seems to like.
If it happens, expect a flood of new money into Solana. Institutional investors who’ve been sitting on the sidelines might finally jump in, driving up demand. And with staking rewards in the mix, the ETF could attract even more interest than plain-vanilla spot funds. The SEC could take weeks or even months to make a final call.
Other altcoins like Ethereum are also showing upward momentum.