A fresh proposal has landed with U.S. regulators: the Cboe BZX Exchange is seeking to list the spot Solana Invesco Galaxy ETF. The product, if approved, would give investors direct access to SOL’s market performance, and even include rewards through staking.
The fund aims to reflect the spot price of Solana by holding actual SOL tokens, while also staking a portion through established providers to generate rewards. These staking returns would be added to the fund’s income.
Cboe’s filing argues that Solana’s trading environment, operating around the clock and across multiple platforms worldwide, helps reduce the risk of price manipulation. With more than $2 billion traded daily and a decentralized infrastructure, the network, Cboe claims, is well-positioned for a regulated investment vehicle.
If the SEC gives the green light, this ETF would be among the first in the U.S. offering spot exposure to Solana with added staking benefits. It follows the recent debut of another staking-enabled Solana ETF, suggesting growing interest in altcoin-focused investment products.
Pricing for the fund would rely on the Lukka Prime benchmark for Solana, with data refreshed every 15 seconds using inputs from major crypto exchanges. Invesco Capital Management is set to sponsor the fund, with Fidelity handling administrative and distribution duties. Cold wallet custody will be used for security, overseen by a third-party provider.
In addition to this Solana proposal, Cboe has also submitted paperwork to launch an ETF tied to Injective (INJ). The Injective fund would mirror a similar structure, holding tokens directly, staking a portion for rewards, and tracking the CoinDesk INJ USD index.
This growing list of ETF proposals reflects a broader push to bring digital assets like Solana into the mainstream via traditional investment channels. Cboe believes this move will appeal to investors seeking secure, regulated access to crypto without relying on offshore platforms or handling custody themselves.
The Solana price at the time of writing is $184, showing a 1.25% drop over the past 24 hours.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
