Invesco has officially registered the Invesco Galaxy Solana ETF in Delaware.

The filing indicates a strategic push to offer exposure beyond Bitcoin and Ethereum.

Delaware was chosen for its business-friendly environment and established legal structure for fund registration.

Invesco has officially filed for the registration of the Invesco Galaxy Solana ETF in Delaware, as of June 13, 2025. The filing confirms the company’s intent to expand its range of digital asset offerings beyond Bitcoin and Ethereum. It also marks a significant step towards making the Solana ETF available to regulated U.S. markets.

Solana ETF Filing Signals Market Shift

Invesco Galaxy’s registration of the Solana ETF indicates a calculated expansion into digital assets outside the leading cryptocurrencies. As altcoins gain interest in the market, the company seeks to enhance its competitive advantage. The action is part of a wider market trend towards diversification of crypto-oriented exchange-traded products.

Delaware has been a popular state for such filings because its laws are accommodating to fund registration. Its business-friendly condition has seen it attract asset managers who introduce new products. By choosing Delaware, Invesco mirrors the earlier CoinShares approach for Solana ETF registration.

The decision by Invesco is indicative of an evolving environment in which the desire to get exposure to blockchains such as Solana is growing rapidly. The move indicates a reaction to the new interest in other blockchain ecosystems. It underlines a readiness to transcend Bitcoin and Ethereum-centred investment products.

Solana’s Growing Appeal in DeFi and Smart Contracts

The performance of Solana as a blockchain has been notable since it rose due to speed, scalability, and a growing developer ecosystem. It has also become a competitor to Ethereum in terms of decentralized finance and smart contract uses. The Solana ETF provides a channel to gain regulated exposure to this network’s potential.

The registration would allow wider access to Solana via normal brokerage accounts without the need to use wallets and exchanges. It would ease access points for investors who want to gain exposure to price changes in Solana and enhance the blockchain’s exposure to conventional finance systems.

With more firms pursuing similar registrations, the Solana ETF joins a growing pool of products aimed at tapping into blockchain infrastructure. The necessity of controlled access to the altcoin markets also confirms Solana’s position in the dynamic digital economy. This expansion makes Solana more attractive as an investment target.

Regulatory Scrutiny Remains for Altcoin-Based ETFs

Even with the filing, regulatory approval is still not guaranteed, as there are debates around the classification of digital assets like Solana. The U.S. Securities and Exchange Commission continues to examine whether such tokens qualify as securities, adding complexity to the approval process for the Solana ETF.

The SEC has received more than 70 applications for digital asset ETFs, many of which propose assets other than Bitcoin and Ethereum. Among them are various attempts to bring Solana to the mainstream finance. 

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Filed under: Bitcoin - @ June 14, 2025 3:00 am