The SEC officially receives the Solana Spot ETF application from Invesco Galaxy🔥
After @Bitcoin and @ethereum, @solana has become the next layer 1 blockchain to attract attention from traditional investment giants. Recently, @SECGov officially confirmed the receipt of the Solana Spot ETF application from the Invesco Galaxy consortium.
This application, along with a series of applications from major names like @vaneck_us, @21Shares, @BitwiseInvest, @Grayscale, @canarymission, @FTI_US, @Fidelity, and @REXShares, awaiting approval, shows that these giants do not want to miss out on the Solana pie.
✍️The main mechanism of the Solana Spot ETF:
- These ETFs will buy and hold Solana (SOL) tokens directly, with the fund's NAV closely aligned with the market price of SOL. Owning an ETF certificate = holding SOL indirectly through traditional exchanges.
- Some funds like Fidelity, REX Shares... plan to integrate staking to optimize yields.
- Main exchanges: Cboe BZX, NYSE Arca. Custodian: Coinbase Custody and third parties ensuring security.
After $BTC $ETH $BNB reached ATH, is the next candidate $SOL? 😄😄
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