Investco Galaxy Spot $ sol ETF filing progresses with SEC acknowledgements

The SEC continues to do well under a code-friendly regime led by new chair Paul Atkins. The agency’s latest regulatory green light came on as it accepted submissions to the Invesco Galaxy Spot Solana ETF, an Exchange-Traded Fund (ETF) designed to track spot prices for Solana (SOL).

The SEC says it has received an application for the Invesco Galaxy Spot Solana ETF.

The acknowledgments came after CBOE BZX Exchange filed Form 19b-4 to propose a listing of ETFs and trading rules changes to begin the SEC’s formal review process.

Breaking: SEC approves Invesco Galaxy Spot $ sol ETF filing pic.twitter.com/utviltqfeh

– August 13, 2025

Why Acknowledgements are important

The filing is the latest Solana ETF to be submitted this year, and comes after a Rex Shares Sol ETF application was submitted in May and marked “immediately effective” and indicating that launches could occur soon.

With SEC approval, Investco Filing will take part in filings from publishers such as Vaneck, 21Shares, Bitwise, Grayscale, Canary Capital, Franklin Templeton, and Fidelity.

Meanwhile, analysts remain optimistic despite the delays that the SEC estimates are likely to approve them by October. This is an optimistic outlook encouraged by Trump’s love for crypto and the presence of CME-listed Solana futures that bolster the discussion of spot products.

There are screws to solve

Despite the excitement of the Solana Ecosystem about future ETF approvals, the SEC is cautious and delaying the decision, citing the need for further evaluation. It is also the fact that there is still an ongoing debate over whether Solana, which may affect approval, should be classified as a product or security.

Securities and goods are considered two different financial instruments and are regulated in the United States by two different governmental organizations.

When crypto is involved, the legal decision that cryptocurrency is one of these financial instruments has widespread meaning regarding how it is sold, where it is listed, and those who have the right to sue if the issuer stepped over the mark.

If cryptocurrencies are classified as security, cryptocurrency issuers and exchanges are usually necessary to seek the necessary licenses from securities regulators that are difficult to do.

So the crypto industry does a lot to ensure that the sale and development of cryptocurrency does not invade securities laws. After all, there is little violating the securities law through decentralization. If cryptocurrencies are created, the assets are less likely to be considered security so that securities regulators cannot identify the centrally coordinated group that will cause them to pump the value of the token.

Cryptocurrencies classified as security do not risk not being listed by exchanges that want to avoid fines from the SEC to list unregistered securities.

All ETF submissions have intensified the debate this year, but the results are everyone’s guesses. One potential outcome is that some cryptocurrencies are classified as securities, while others are classified as commodities.

However, this could lead to a more complex regulatory environment in which different cryptocurrencies are affected by a variety of rules and regulations.