The competition to introduce a Solana ETF for direct investment in the US is heating up, with investors keenly following the Securities and Exchange Commission’s (SEC) actions. With several applications pending and a staking-enabled SOL ETF already available, the likelihood of a spot ETF launch has dramatically increased to 99% on prediction markets. As the SEC formally reviews Invesco Galaxy’s application, the question arises: how close are we to its potential debut? Let’s explore the details.
Spot Solana ETF: Approval Chances Hit 99%
Investment platforms like Polymarket indicate strong investor confidence in the potential approval of a Spot Solana ETF in 2025. This heightened optimism, reaching the 99% mark, followed the launch of the REX-Osprey Solana + Staking (SSK) exchange-traded fund in early July.
Reports indicate that the SSK ETF began trading on July 2nd, generating over $20 million in trading volume on its first day alone. This success fueled investor expectations for a spot Solana ETF, pushing predicted approval odds above 99%.
Polymarket, Spot Solana ETF Approval Odds
This strong sentiment has remained consistent, indicating significant investor anticipation for a SOL ETF launch this year. Furthermore, substantial inflows into Ethereum ETFs and Ethereum’s recent market performance are contributing to the demand for a similar product for Solana.
SEC Officially Reviews Invesco Galaxy Spot Solana ETF – Is Approval Imminent?
Adding to the list of applicants seeking to launch a spot Solana ETF, Invesco and Galaxy Digital submitted a joint filing in June 2025. After a period of approximately two months, the SEC has acknowledged the application, signaling the commencement of the review process. The SEC is expected to reach a decision in due course.
Industry experts, including James Seyffart and Eric Balchunas, suggest that these SOL ETFs could potentially be approved as early as October 2025. However, uncertainty remains, as the SEC has postponed decisions on numerous similar filings.
The SEC’s “Listing Standards” for crypto ETPs is out via new exchange filing. BOTTOM LINE: Any coin that has futures tracking it for >6mo on Coinbase’s derivatives exchange would be approved (below is list). It’s about a dozen of the usual suspects, the same ones we had at 85% or… https://t.co/QlzZnta7Yv pic.twitter.com/CmBr8XxAcM
— Eric Balchunas (@EricBalchunas) July 30, 2025
The list of potential issuers includes Fidelity, VanEck, Bitwise, and Grayscale, which has applied to convert its GSOL Solana Trust into an ETF.
Currently, the SEC has not announced a specific date for potential approval. However, their request for issuers to update their S-1 filings indicates a serious and ongoing evaluation of these applications.
Considering these developments and the high approval odds, the ETFs could be approved in the near future.
Frequently Asked Questions (FAQs)
Approval odds on Polymarket and similar prediction platforms are currently at 99%.
Multiple companies, including Invesco, Galaxy, Fidelity, and Bitwise, have filed applications for a spot Solana ETF with the SEC.
Polymarket odds and expert predictions point to a potential SEC approval of a spot Solana ETF in 2025.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.
Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry.
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