NewsBTC
26 June 2025
Updated 1 July
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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.