The Solana ETF race is heating up, as Invesco and Galaxy Digital join the list of major firms seeking regulatory approval for a spot SOL fund. With growing institutional interest and nine issuers now in line, the push for a Solana ETF could mark a turning point for the altcoin’s mainstream adoption. As attention shifts beyond Bitcoin and Ethereum, Solana may be next in line to attract Wall Street capital.
Recent price action suggests traders are already anticipating a fundamental shift. With SOL climbing back toward $150 after weeks of consolidation, speculation is growing that institutional inflows could soon redefine the token’s trajectory. But is the market ready for a Solana ETF—and could it truly follow in Bitcoin’s footsteps?
Invesco and Galaxy File for Solana ETF
On June 25, Invesco and Galaxy Digital officially filed for the Invesco Galaxy Solana ETF, aiming to launch a spot ETF that tracks the real-time price of Solana. The ETF is designed to trade on Cboe BZX under the ticker symbol “QSOL” and would rely on Lukka Prime’s Solana benchmark to determine price accuracy. This move, confirmed by a new SEC filing and analyst James Seyffart on X, signals growing institutional appetite for SOL as the next major crypto asset to enter the ETF arena.
This marks the ninth Solana ETF application submitted to the SEC, joining competitors like Franklin Templeton, VanEck, and Grayscale. The growing list of applicants reflects strong institutional conviction in Solana as a viable long-term asset—especially within portfolios looking for altcoin diversification.
How Could a Solana ETF Impact SOL’s Price?
The success of spot Bitcoin and Ethereum ETFs provides a strong case study. After approval, both assets experienced significant rallies driven by institutional adoption. If SOL follows a similar path, a spot ETF could inject fresh capital into the Solana ecosystem, boosting demand and market cap.
Source: Tradingview
Currently, SOL is trading near $145, holding above key support after weeks of volatility. A confirmed ETF approval could spark a breakout toward the $160–$180 zone, with $200 acting as a long-term psychological target. On-chain metrics remain healthy, with Solana continuing to dominate NFT volume, DeFi transactions, and developer engagement.
Will Solana Be the “Next Bitcoin” for Wall Street?
While Bitcoin remains the gold standard for institutional crypto exposure, Solana is emerging as a high-performance alternative. Its fast settlement times, low transaction fees, and growing developer base make it an appealing choice for both retail and institutional investors.
An ETF would not only validate Solana’s place in the market—it could cement its role in traditional finance. The next few months may determine whether SOL can cross that threshold and become the first altcoin after ETH to receive the SEC’s green light for a spot fund.
Final Thoughts: What the Solana ETF Filing Means for Investors
The Invesco Galaxy Solana ETF filing could mark the beginning of a new narrative—one where Solana steps into the ETF spotlight and joins the ranks of Bitcoin and Ethereum as a regulated, institutionally-backed asset. Whether or not approval is granted this year, the trend is clear: Solana is no longer just a retail favorite, but a strategic target for asset managers betting on the next generation of blockchain infrastructure.
If the filing gains traction, SOL may soon experience a wave of inflows that reshapes its market position—potentially making it one of the most important tokens to watch in 2025.
