Solana, Pudgy Penguins ETF Filings Added to SEC's Crypto To-Do List
U.S. regulators have added filings for a proposed Solana exchange-traded fund (ETF) and a rule change for the listing of a Pudgy Penguins token investment product. The Invesco Galaxy Solana ETF will track Solana's performance, joining eight other funds. Cboe's 19b-4 request aims to allow the Canary PENGU ETF to trade. The SEC is reviewing over two dozen applications for altcoin-based ETFs, including those for Solana, XRP, Dogecoin, Cardano, Polkadot, and Hedera. Analysts estimate a 95% chance of approval for Solana, XRP, and Litecoin spot ETFs by the end of 2025, with a 90% probability for Dogecoin and others. The Invesco Galaxy Solana ETF will trade under the QSOL ticker, with Galaxy Digital Funds as the execution agent and Coinbase as custodian. Solana is currently trading at $143, down nearly 1% in 24 hours and 18% over the past month. PENGU has remained stable but has fallen 22% in the last month.
