Invesco and Galaxy Digital have submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for the creation of a spot Solana (SOL) exchange-traded fund (ETF), reported via a submission to the Chicago Board Options Exchange (CBOE) as detailed in a public post by Solid Intel on X [1]. This move follows the approval of spot ETFs for Bitcoin and Ethereum earlier in 2024, marking another potential milestone in the institutional acceptance of digital assets.
The proposed Solana ETF would differ from futures-based products by directly holding SOL tokens, allowing investors to gain exposure to the real-time price of Solana through traditional brokerage accounts. This structure is expected to enhance accessibility for investors who are less familiar with managing crypto wallets and private keys. The ETF would also benefit from the regulatory oversight of the CBOE, addressing…
