LAST MINUTE: There is a critical new development regarding Solana Spot ETFs! What are the approval predictions?

Invesco Capital Management LLC has made an S-1 filing with the U.S. Securities and Exchange Commission for the Invesco Galaxy Solana ETF.

While the fund is expected to be listed on the Cboe BZX exchange, it was reported that it will use the Lukka Prime Solana Reference Rate as a benchmark to track the spot price performance of Solana’s (SOL).

This development could signal a new era for cryptocurrency investment products on Wall Street. Bloomberg's senior ETF analysts Eric Balchunas and James Seyffart predict that Solana, XRP, and Litecoin spot ETFs will likely receive approval with a 95% probability by the end of 2025. According to the analysts, Dogecoin, Cardano, Polkadot, Hedera, and Avalanche ETF applications also have a 90% chance of receiving approval by the end of the year.

If these altcoin ETFs are approved by the SEC, this step will be the largest expansion following the Bitcoin and Ethereum spot ETFs in cryptocurrency investment products. The SEC's expansion of this stance, which has thus far only granted spot ETF approval for these two crypto assets, could be a historic turning point for the crypto markets.

The success of spot Bitcoin ETFs has paved the way for new applications. This product group alone manages assets exceeding $100 billion. BlackRock's iShares Bitcoin Trust (IBIT) fund has reached a size of $70 billion, making it the fastest-growing ETF in history.

*This is not investment advice.

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