Another Solana ETF Incoming? Invesco Galaxy Makes Final Filing to Begin CBOE Trading

The market is on the verge of getting an eighth Solana ETF product as Invesco Galaxy makes its final filing with the SEC. The paperwork that suggests immediate trading could mean this fund starts trading as early as next week.

Invesco Galaxy Solana ETF Nears Launch

Invesco has taken a significant step toward launching its Solana fund. The firm filed a Form 8-A with the U.S. SEC. This generally is one of the last regulatory steps before an exchange-traded product starts trading.

The filing follows Invesco Galaxy’s revision to its ETF application last month. Here, the company provided details on its fee structures and operational information for its proposed listing on the Cboe BZX Exchange.

The company said it will not waive its sponsor fee upfront, but may lower or waive fees from time to time at its discretion. The ETF will list under the ticker QSOL.

To add, Invesco Ltd bought 4,000 shares for $100,000, which serves as the first capital infusion for the trust. A detailed audit section was also done by an independent accounting firm.

If approved, the Invesco Galaxy fund would be the latest to join SOL’s market. The move comes after last week’s launch of the Franklin Templeton Solana ETF, which got formal clearance to begin trading.

This fund could follow the trend of SOL investment vehicles that have seen steady inflows in recent sessions.

SOL Price Jumps on ETF Launches and Rate Cut Hopes

Solana has risen more than 4% over the past 24 hours. This is mostly due to the multiple ETF developments and expectations of a potential Federal Reserve rate cut. 

Also, capital inflow continued to pour into Solana ETFs this week. It recorded a combined inflow of $16.54 million in the most recent session. This is the fourth day in a row of positive flows. This was after an earlier stretch of outflows where funds logged its largest single-day outflow.

However, on-chain analytics company Glassnode said liquidity conditions for Solana have worsened in the last weeks. The firm explained it had maintained Realized Profit-to-Loss Ratio below one since mid-November. According to the readings, the realized losses outnumbered the profits.

In another development, CME Group announced the impending release of spot-quoted Solana futures. The new derivatives products are targeted for December 15 launch, pending regulatory approval.