Overview

• Cboe BZX filed with the SEC on July 31 to list the Invesco Galaxy Solana ETF featuring the Lukka Prime Solana Reference Rate for 15-second pricing updates and both cash and in-kind share creations and redemptions.
• 21Shares submitted an amended spot Solana ETF application to address SEC comments on in-kind redemptions and detailed custody of all SOL with Coinbase Custody Trust Company insured by private underwriters.
• Both filings propose staking a portion of SOL holdings through trusted providers, potentially generating additional returns for ETF investors.
• The SEC has postponed decisions on related crypto products, including an Ethereum staking ETF until September 25, and continues to demand case-by-case amendments in the absence of a regulated Solana futures market.
• Regulators in Canada and Brazil have already approved spot and staking-enabled Solana ETFs, highlighting a growing divergence in global crypto fund oversight.