$SOL Investment companies Invesco and Galaxy Digital have filed an application with the SEC to launch the Invesco Galaxy Solana ETF (QSOL). The fund will directly invest in SOL tokens through Coinbase Custody. They also plan to periodically withdraw some SOL for staking through trusted providers to earn.

This is already the ninth application for a spot ETF on Solana. The race to launch the instrument also includes VanEck, Grayscale, Bitwise, Franklin Templeton, Fidelity, 21Shares, Canary Capital, and others.

Bloomberg analysts see a high probability of approval for these products in the summer, possibly as early as July. All Solana ETFs may launch simultaneously to avoid giving one company an advantage.$WCT $TRX