NewsletterInvesco & Galaxy Digital Register Solana ETF In Delaware
Highlights
- Invesco is expected to file an S-1 with the SEC following the incorporation in Delaware.
- The asset manager will collaborate with Galaxy Digital to issue this fund.
- This comes as the SEC could soon approve the Solana ETFs.
Invesco is set to become the latest fund manager to jump on the Solana ETF wave. The company has incorporated a SOL ETF in Delaware in collaboration with Galaxy Digital, with an S-1 and Form 19b-4 filing with the SEC likely to follow.
Invesco Incorporates Solana ETF In Delaware
Data from the Delaware Division of Corporations shows the registration of the ‘Invesco Galaxy Solana ETF’ entity. This indicates that asset manager Invesco intends to offer a fund that will provide investors with exposure to SOL.
This move usually precedes an S-1 and 19b-4 filing with the US Securities and Exchange Commission (SEC). The firm is likely to file the S-1 soon, while an exchange files to list and trade shares of this Solana ETF. If so, Invesco will become the seventh asset manager to file to offer this fund.
Invesco will offer this fund in collaboration with Galaxy Digital. The two have also partnered to offer the Invesco Galaxy Bitcoin and Ethereum spot ETFs. This development comes just as CoinGape reported that the SEC could soon approve the SOL ETFs.
The Commission has asked some issuers to amend their S-1 forms, with an approval likely to come in the next few weeks. There is the possibility that the SEC could approve all these funds at the same time, just like it did with the Bitcoin and Ethereum spot ETFs.
Crypto ETF issuers 21Shares, Van Eck, and Canary Capital recently urged the SEC to return to the ‘first-to-file’ principle to maintain a vibrant and competitive financial marketplace. However, the SEC has yet to reply to this request. Interestingly, these asset managers were among the first to file for a Solana ETF.
The final deadline for a SEC decision on the SOL ETFs is October 10. If the SEC reinstates a first-to-file principle, then Grayscale, Van Eck, Canary Capital, and 21Shares’ ETFs could launch first in that order.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- SEC Crypto Task Force Hosts Financial Privacy Roundtable Today: What to Expect
- Breaking: Kevin Warsh Now Favorite to Replace Powell After Hassett’s Fed Chair Bid Faces Pushback
- First Hyperliquid ETF Launch ‘Imminent’ as Bitwise Files Amended S-1 With SEC
- XRP News: Ripple’s RLUSD Eyes Wider Adoption as Stablecoin Expands to Coinbase’s L2 Base
- Breaking: Michael Saylor’s Strategy Buys 10,645 Bitcoin as Crypto Market Braces for Japan Rate Hike
- Bitcoin Price Weekly Forecast as Gold’s Surge Revives Inverse Correlation — Is $85K Next?
- Ethereum Price Risks $2,600 Drop Despite JPMorgan’s New Fund on its Network
- Analyst Confirm Pi Network Price Could Still Reach $1, Here’s When?
- Is Ethereum Price Set for a Rebound as a Prominent Whale Accumulates $119M After the Dip?
- XRP Spot ETF Records Nearly $1B Inflows While BTC and ETH Bleed- Is A XRP Price Reversal Ahead?
- Bitwise SOL ETF Records 33 Days of Nonstop Inflows- Is A Recovery to $150 Possible?
