If Invesco and Galaxy proceed as expected, the next milestone will be filing an S-1 registration statement with the SEC.
This filing would formally initiate the regulatory review process required to list the product on a national securities exchange.
Invesco and Galaxy’s trust registration comes when momentum is building around a potential approval for a Solana ETF product.
The SEC has asked prospective issuers to update their S-1 filings within one week. This request points to active dialogue between the regulator and market participants.
In addition, the discussions have also reportedly included whether to permit limited staking functionality within approved ETFs, a feature that could enhance investors’ returns.
So, should the ETF secure approval, the product would allow investors to gain exposure to Solana’s price performance through a regulated vehicle, without direct custody or purchase of the digital asset.
Balchunas noted::
“The further away you get from BTC, the less assets there will be.”
