BTC BULL RUN, page-609

  1. COD
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    Invesco and Galaxy Digital File for Solana ETF Launch

    AICryptocore.com
    ByAICryptocore.com
    5 hours ago
    2minsread

    Invesco and Galaxy Digital have filed initial documents with the U.S. SEC to launch a spot Solana ETF, involving Coinbase Custody and Bank of New York Mellon as key partners.


    Galaxy Digital's proposed role as theExecution Agenthighlights the anticipated institutional interest, with expected effects on Solana's TVL and liquidity metrics. The filing comes amidst increased ETF activity in the crypto sector.
    "Galaxy Digital Funds LLC (the ‘Execution Agent’) will be responsible for acquiring and managing the underlying SOL tokens." —SEC S-1 Filing
    Invesco and Galaxy Digital are collaborating on a spot Solana ETF, following successes with Bitcoin and Ether ETFs.Galaxy Digital Funds LLCis set to manage the SOL tokens, while Coinbase Custody and Bank of New York Mellon will respectively serve as custodian and fiat administrator.
    The filing could lead to significantinstitutional investmentin Solana, potentially affecting its market dynamics. Institutional capital inflows may increase Solana's on-chain metrics, includingTVLand staking flows, reflecting a broader market impact.
    Last edited by COD: Today, 11:29
 
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