Solana is closer to Wall Street with Investco’s new proposal
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Until now, there are 9 Authorization requests from ETF of Solana submitted to the SEC.
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There are high probabilities that these investment funds are approved in 2025.
Invesco and Galaxy Digital presented this Wednesday to the United States Stock Exchange and Securities Commission (SEC). The fund, called Galaxy Solana ETF, seeks to follow the market price in cash of this cryptocurrency, which is currently the sixth for market capitalization.
With this new presentation, Authorization requests already add nine to launch an ETF linked to Solana in the United States. Among the managers who have also presented are Vaneck, Bitwise and Grayscale, who seek to replicate the Bitcoin and Ether ETF model approved in 2024.
The ETF of Investco and Galaxy would directly maintain the sun cryptocurrency. According to form S-1 sent to the SEC, Coinbase Custody, a subsidiary of the Coinbase platform, would be responsible for protecting the assets of the background. The goal is that the ETF precisely reflect the yield from the price to the solar counted.
The background would be negotiated in the CBOE BZX bag with the “QSol” symbol. It is still that managers present a 19B-4 form, which is necessary for the SEC to consider whether it approves the modification of regulations required for launch.
The document also includes a clause that opens the possibility that the fund performs staking, that is, that it allocates part of its sun holdings to the validation of transactions within the network, through specialized service providers. In return, I would receive more tokens sun rewardswhich could count as income for the trust or be transferred to investors.
Other signatures that have requested similar ETFs have recently modified their statements to include this same strategy. Staking is a native function of the Solana network and allows you to generate yields for maintaining assets blocked during a certain period.
Sector analysts consider that Solana ETFs could be approved in 2025, in a context of regulatory opening towards cryptoactive financial products. According to cryptootics, approval expectations could have positive effects on the price of Solana in the short term, due to the growing interest of institutional investors.
Investco’s strategy adds to a trend in the industry to expand the ETF offer beyond Bitcoin and Ether, after the commercial success of these products. The managers seek Explore market interest in alternative assetsor “Altcoins”, as part of an expanding ecosystem.
