In short
- A presented Invesco Galaxy Fund would follow the performance of Solana.
- Several issues have now submitted applications for Solana ETFs, including Fidelity, Vaneck and Bitwise.
- CBOE has applied for a 19B-4 rule change that makes the list of a fund-based fund possible on Canary Capital Pengu.
US supervisors added individual files to their docket on Wednesday for a proposed Solana Exchange-treated Fund and a Control change That would make the list of an investment product possible bound to Pudgy Penguins -Tokens.
The Invesco Galaxy Solana ETF Join a list of eight other funds that would follow the performance of the sixth largest crypto through market capitalization.
Meanwhile a 19B-4 request By CBOE, the Canary Pengu ETF would allow the exchange.
The archives are among the latest developments in an increasingly heated crypto ETF room, which has been intensified since the dramatic success of Spot Bitcoin and Ethereum funds in the past 18 months, and in the midst of a more receptive political environment for crypto products.
The SEC weighs more than two dozen applications for Altcoin -based ETFs, including not only Solana, but XRP, Dogecoin, Cardano, Polkadot and Hedera.
Earlier this month, Seven Solana Funde-Emennants submitted S-1 forms in the SEC, which clarifies the language that would enable them to use the Solana they have to use.
Strike refers to the process of promise tokens to a decentralized network in exchange for yield or financial rewards.
The inclusion in ETFs is a point of discussion with federal supervisors, who have previously delayed their decision on setting ETHEEM ETFs because of concern about the financial and security -related risks of practice.
Solana, XRP and Litecoin Spot ETFs are Almost locked with 95% chances of approval of the US Securities and Exchange Commission by the end of 2025, according to estimates Last week by analysts Eric Balchunas and James Seyffart from Bloomberg.
Dogecoin, Cardano, Polkadot, Hedera and Avalanche spot ETF applications have a chance of 90% approval towards the end of the year. Such altcoin funds seemed unlikely to the success of the BTC and ETFs, which generated $ 47 billion and $ 4 billion in net investments respectively.
The Invesco Galaxy Solana ETF will act under the QSOL -Ticker. Galaxy Digital Funds will serve as the implementing agent of the Fund, who buy and sell Sol on behalf of the fund. Coinbase will serve as the preservator of the fund.
Crypto-oriented investment management company Canary Capital submitted in March for his Pudgy Penguin Fund, one of the various other Altcoin ETFs that it has presented to the SEC.
Solana, the native token of the Solana network, recently traded at $ 143, a decrease of almost 1% in the last 24 hours.
It has fallen by around 18% in the past month, because most Altcoins have experienced a recession. However, it remains a favorite blockchain among many developers because of its speed and efficiency.
Pengu was roughly unchanged from Tuesday at the same time and has fallen by 22% last month.
Published by Sebastian Sinclair
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