Invesco and Galaxy submit Solana ETF S-1 registration statement to SEC

According to Golden Finance, investment management company Invesco Ltd and cryptocurrency focused company Galaxy Digital LP have joined the competition for Solana ETF. The subsidiaries of the two companies submitted a registration statement to the US Securities and Exchange Commission on Wednesday, applying for the "Invesco Galaxy Solana ETF". The statement states that if approved, the fund will be traded on the Chicago Board Options Exchange (Cboe) BZX under the stock code "QSOL". Invesco Capital Management LLC will serve as the initiator, and Bank of New York Mellon will serve as the manager. Galaxy will be responsible for acquiring tokens. The statement also stated that Coinbase Custody Trust Company, LLC will serve as the custodian of SOL. Earlier this month, the US SEC requested Solana ETF issuers to update their S-1 documents, indicating that approval may come soon.