Invesco and Galaxy Asset Management have expanded regulated access to Solana with the launch of the Invesco Galaxy Solana ETP, which trades under the ticker QSOL. This new product joins Bitcoin and Ethereum in the ETP suite of both firms. Kathleen Wrynn, Global Head of Digital Assets at Invesco, highlighted the strategic importance of expanding crypto-linked ETPs alongside tokenization initiatives, reflecting a multi-asset digital strategy.
The institutional Solana ETP QSOL tracks Solana’s spot price using the Lukka Prime Solana Reference Rate, offering a regulated framework that aligns with institutional compliance requirements. Coinbase Custody Trust Company handles the custody of the underlying SOL. In addition to price exposure, QSOL allows for potential yield, as it stakes its holdings through Galaxy Digital Infrastructure, with rewards treated as income for the trust.
The launch occurs at a time of short-term pressure for SOL, which is trading in a defined range with support near $129–$130. Investors are watching to see if the institutional demand driven by the institutional Solana ETP is sufficient to break the $134 resistance and lift Solana out of its current range. Meanwhile, the ETP’s liquidity and tracking efficiency will be key to evaluating the long-term success of this vehicle on the Cboe BZX Exchange.
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