In a bold move that could reshape the landscape of cryptocurrency investments, Cboe BZX Exchange has filed for regulatory approval to list a Solana-focused exchange-traded fund (ETF), known as the Invesco Galaxy Solana ETF. This filing, made just yesterday, aims to advance the development of a second U.S.-based staking-enabled fund, despite ongoing delays from the U.S. Securities and Exchange Commission (SEC) on comparable products. For more on these delays, see our article on the SEC’s decision on Trump-linked Bitcoin and Grayscale Solana ETFs.
A New Chapter for Solana and Staking
The filing comes at a time when Solana, an increasingly popular blockchain platform, continues to capture the attention of investors due to its high throughput and lower transaction costs. According to sources, the proposed ETF would allow investors to gain exposure to Solana’s native token, SOL, while also participating in staking—and that’s an intriguing twist. Staking, for those new to the scene, involves locking up cryptocurrencies to support network operations, earning rewards in the form of additional tokens.
Industry analysts are abuzz with speculation. “The introduction of a Solana ETF could be a game-changer for the market,” says Jenna Lee, a cryptocurrency researcher at Digital Commerce Insights. “It offers a unique opportunity for institutional investors to engage with staking without the technical complexities.” Lee’s optimism highlights the potential for this financial product to drive mainstream adoption of Solana and staking as a passive income strategy.
Regulatory Hurdles and Market Dynamics
However, the road to approval is fraught with regulatory challenges. The SEC has been notoriously slow to approve cryptocurrency ETFs, citing concerns over market manipulation and investor protection. Just this past month, the commission delayed decisions on several high-profile ETF applications, leaving the industry in a state of suspense. This follows a pattern seen in Trump’s Truth Social Bitcoin ETF among multiple crypto funds delayed by SEC.
Yet, the timing might be fortuitous. The crypto market has shown resilience, rebounding from last year’s bearish trends. Solana itself has seen a resurgence, with its price gaining over 50% since the beginning of 2025—an indication of growing confidence among both retail and institutional investors. “Solana’s recent performance suggests it might be poised for a breakout,” notes Mark Weiss, a market strategist at CryptoAlpha.
Historical Context and Future Implications
To put this in perspective, the idea of a cryptocurrency ETF has been around for years, but actual progress has been akin to a rollercoaster ride. Bitcoin ETFs, for instance, faced repeated rejections before eventually gaining approval in some jurisdictions. The Solana ETF, with its staking component, adds another layer of complexity that could either excite or alarm regulators.
As we look ahead, several questions linger. Will the SEC finally give the green light to a staking-enabled ETF? And if so, what ripple effects could this have on the broader crypto market? Investors are cautiously optimistic, eyeing potential returns but wary of regulatory headwinds.
In summary, Cboe BZX’s application for the Invesco Galaxy Solana ETF represents a significant step in the evolution of crypto investment vehicles. Whether it will usher in a new era of accessibility and growth for Solana remains to be seen. For now, the industry waits with bated breath, anticipating how this regulatory saga will unfold in the coming months. There’s a lot at stake—literally.
Source
This article is based on: Cboe BZX Seeks Regulatory Nod for Invesco Galaxy’s Solana ETF
Further Reading
Deepen your understanding with these related articles:
- SEC Delays Truth Social Bitcoin ETF Decision — New Deadline Sparks Crypto Startup Buzz
- Solana Co-Founder Calls Meme Coins ‘Digital Slop’ Despite Token-Fueled Surge
- Unlucky Trader Accidentally Burns $58K in Pump.fun Solana Token—But He’s Not Angry
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
