26 June 2025
Updated 1 July
Updated 1 July
0 0
Invesco and Galaxy Digital File for Solana ETF Amid Growing Competition
Invesco Ltd and Galaxy Digital LP have filed to launch a Solana-based exchange-traded fund (ETF) with the SEC, joining over 12 other pending ETF applications.
Key Points
- Growing interest in Solana ETFs follows the success of Bitcoin and Ethereum ETFs.
- Major existing crypto ETFs include:
- $IBIT: iShares Bitcoin Trust, $70.6B AUM
- $FBTC: Fidelity Wise Origin Bitcoin Fund, $20.4B AUM
- $GBTC: Grayscale Bitcoin Trust, $19.6B AUM
- $ETHA: iShares Ethereum Trust, $3.9B AUM
- $ETHE: Grayscale Ethereum Trust, $2.8B AUM
- Pending filings also include various assets beyond Bitcoin and Ethereum, like $XRP and $SOL.
- Grayscale aims to convert its Digital Large Cap Fund to an ETF by July 2, which could prompt others to follow suit.
- The SEC's approval timeline remains uncertain due to lack of clear rules around crypto ETFs.
Meanwhile, the Snorter Token ($SNORT) is launching a trading bot designed for meme coin trading on Telegram, enhancing transaction speed and providing protection against common trading risks.
Snorter Token Highlights
- Presale raised nearly $1.3M, indicating strong support.
- Features include rapid trade execution, low fees, and future plans for a token bridge and dashboard.
Overall, these developments highlight the increasing accessibility and adoption of Solana within both traditional finance and decentralized platforms.