Solana is attracting renewed focus in the cryptocurrency market as institutional engagement deepens and new ETF applications continue to emerge. This week, asset manager Invesco became the ninth firm to file for a spot Solana ETF, aiming to track the cryptocurrency’s market performance alongside several leading competitors. Meanwhile, analysts and investors are increasingly recognizing Solana’s expanding potential beyond speculative trading, highlighting its growing role in the long-term development of tokenized capital markets.
Invesco, in partnership with Galaxy Digital, filed for a Solana-based exchange-traded fund (ETF), becoming the ninth contender seeking regulatory approval to launch a spot Solana ETF. This development reflects a growing appetite to diversify crypto ETF offerings beyond Bitcoin and Ethereum.
The proposed Invesco Galaxy Solana ETF would hold SOL tokens directly, Solana’s native cryptocurrency that currently ranks as the sixth-largest by market capitalization, trading at approximately $145.81. The ETF is designed to mirror Solana’s spot price and would be listed on the Cboe BZX Exchange under the ticker “QSOL.”
Following the explosive success of spot Bitcoin ETFs in early 2024 and a more modest reception for Ethereum ETFs, asset managers are now testing market interest in altcoin-focused funds. Known for its high-speed and low-cost blockchain network, Solana has emerged as the leading candidate in this next wave of ETF innovation.
Joining industry heavyweights such as VanEck, Grayscale, Bitwise, Fidelity, Franklin Templeton, and 21Shares, Invesco’s entry signals growing institutional confidence in Solana’s long-term value. These firms believe demand for regulated, accessible Solana investment products is strong enough to earn SEC approval.
According to Bloomberg ETF analyst James Seyffart, the U.S. Securities and Exchange Commission (SEC) could approve Solana ETF applications as soon as July, well ahead of the final October 10 deadline. Bloomberg senior ETF strategist Eric Balchunas assigns a 90% probability to this outcome, highlighting rapid momentum behind these filings.
“Get ready for a potential altcoin ETF summer with Solana likely leading the way,” Balchunas remarked.
The surge in Solana ETF filings coincides with a more optimistic outlook on crypto regulation in the U.S. The Trump administration has indicated intentions to reduce regulatory barriers for digital assets, a shift that has already spurred billions in institutional Bitcoin investments and propelled prices to new all-time highs.
This deregulatory tone has encouraged asset managers to move forward with crypto ETFs that seemed politically and legally challenging just months ago. The push for Solana ETFs reflects a broader integration of cryptocurrency into traditional finance, with public companies increasingly raising capital to hold digital assets over the long term.
The nine simultaneous filings suggest that, if approved, all Solana ETFs may launch together to prevent any firm from gaining a first-mover advantage. The current contenders include:
While most of these firms have already launched spot Bitcoin and Ethereum ETFs, Canary Capital stands out for aggressively pursuing ETFs tracking a wider variety of altcoins.
Though the SEC’s final decision is pending, analysts believe simultaneous approval is the most likely scenario.
Regulatory greenlighting of these ETFs would mark a watershed moment not just for Solana, but for altcoins in general. It would affirm Solana’s growing prominence in decentralized finance (DeFi), non-fungible tokens (NFTs), and Layer 1 blockchain ecosystems, where it is increasingly challenging Ethereum’s dominance.
For both institutional and retail investors, a regulated Solana ETF offers a safer and more convenient way to gain exposure without the complexities of self-custody or crypto exchanges.
If this wave of approvals materializes, summer 2025 could be remembered as the dawn of the “Altcoin ETF Era,” with Solana at the forefront.
Solana’s native token, SOL, experienced a minor pullback on Tuesday after briefly reaching a session high of $147.73. This dip came alongside increased trading volume and fresh bullish commentary from Syncracy Capital Co-Founder Ryan Watkins, who reaffirmed positive long-term outlooks on Solana’s role in the evolving crypto economy.
Such price action reflects a typical pattern for leading cryptocurrencies benefiting from growing institutional interest and macroeconomic validation. Despite short-term volatility, these factors continue to support Solana’s fundamentals.
Ryan Watkins recently revisited his bold May forecast, framing the competition between Solana and Hyperliquid as the defining battle for the next phase of blockchain innovation.
In a June 25 post on X (formerly Twitter), Watkins declared that Solana is positioned to lead the “tokenization of everything”—the growing trend of digitizing real-world assets, financial instruments, and equities on permissionless blockchains.
June 2025, Cryptoniteuae