Investco and Galaxy Digital was announced this Wednesday to the U.S. Stock Exchange and the Securities Commission (SEC). The fund, known as the Galaxy Solana ETF, aims to follow the market price of cash in this cryptocurrency, currently the sixth in market capitalization.
With this new presentation, Approval request has already added 9 Launching an ETF linked to Solana in the US. Also among the managers who presented Vaneck, Bitise and Grayscale, who are attempting to replicate the Bitcoin and Ether ETF models approved in 2024,
Investco and Galaxy ETFs maintain Sun Cryptocurrency directly. According to Form S-1 submitted to the SEC, Coinbase Custody, a subsidiary of the Coinbase platform, is responsible for protecting background assets. The goal is ETF It accurately reflects the yields from price to counted sunlight.
The background is negotiated with a “QSOL” symbol and a CBOE BZX bag. The manager presenting the 19B-4 form is still necessary to consider whether the SEC would approve any regulatory changes required for launch.
This document also includes clauses that open up the possibility that a fund will perform staking, that is, it will allocate a portion of the sunholding to validate transactions within the network through specialized service providers. In return, I’ll receive more token sun rewardsit may be counted as the income of the trust or transferred to an investor.
Other signatures requesting similar ETFs have recently changed their statement to include this same strategy. Staking is a native feature of the Solana network and can generate yields to maintain blocked assets for a given period of time.
Sector analysts believe that Solana ETFS could be approved in 2025 in the context of the regulatory opening for Cryptoactive Financial Products. According to Cryptootics, approval expectations are possible It has a positive effect on Solana’s price In the short term, institutional investors are gaining interest.
Investco’s strategy has increased the industry’s trend to expand ETF offers beyond Bitcoin and ether following the commercial success of these products. Manager asks Explore market interest in alternative assetsor as part of the expanding ecosystem, or “altcoins.”
