In the blink of an eye, the Cboe BZX decided the world was missing out on something spectacular. So, they slid a proposal to the SEC—a grand plan to list the Invesco Galaxy Solana ETF. Think of it: direct exposure to Solana, but with a hook; this thing has staking built right in, as if crypto wasn’t already complicated enough. Oh, the joy of institutional interest—finally, someone with a suit and tie recognizes Solana’s *potential.*
Invesco and Galaxy Aim for Solana—The Blockchain Red Carpet
Imagine a world where asset managers, possibly in pajamas, gaze at the rising star of Layer 1 blockchains. The duo, Invesco and Galaxy Digital, want you to have a piece of the Solana pie, which is apparently tasty enough to earn a spot on the SEC’s radar. They’re not alone—VanEck and 21Shares are already knocking on that door, eager to get their slice of the crypto pie, as if the regulators haven’t had enough caffeine.
Their proposal hints at a future where ETFs might not just mirror prices but could also pay you for staking. Because who doesn’t love earning while watching their investment soccer game of ups and downs? It’s the kind of genius we in finance dream of—adding income streams that are shaped like little staking rewards, not just glorified price tags.
Pricing, Market Structure, and a Dash of Reality
To keep everyone honest—and awake—the ETF will depend on the Lukka Prime Solana Reference Rate, updating every 15 seconds. This rate combines prices from Binance, Coinbase, Kraken, and OKX—markets that work hard or hardly work, depending on the day. The Cboe people also boasted about Solana’s elaborate global trading setup—24/7, across platforms, avoiding the SEC’s flirtation with crypto rejections. As if market liquidity and a $2.7 billion daily volume could sway anyone—unless you’re into that sort of thing.
More than Just Solana: Enter Injective, the New Kid on the Block
Just when you thought it was safe to scroll past crypto ETF news, Cboe files again. Now, they’re eyeing Injective, promising another ETF with staking—because why not turn every blockchain into a yield farm? Canary Capital Group is behind this one, throwing the usual “diversify and capture the future” line. Who needs personal patience when you can have staking, liquidity, and regulatory approval all in one neat package?
So, the scramble continues—funds hoping to carve a space outside Bitcoin and Ethereum, making sure that if someone’s interested in decentralization, it’s also interesting enough for regulators to maybe, just maybe, give a thumbs up. Or so the spectacle goes.
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2025-07-31 21:23