The crypto world is buzzing with excitement as Cboe files the first staked crypto ETF and Solana ETF, marking a pivotal moment for institutional crypto investment. The SEC’s recent clarity on staking activities has opened doors for innovative financial products that could reshape the market.
What’s Driving the Solana ETF and Staked Crypto ETF Filings?
Cboe, the operator of the Chicago Board Options Exchange, has submitted two groundbreaking filings to the SEC:
- Invesco Galaxy Solana ETF: A spot-based structure tracking SOL’s performance with cold storage safeguards.
- Canary Staked INJ ETF: The first U.S. application for an ETF tied to staked crypto assets, offering passive income via Injective Protocol.
How SEC’s Staking Ruling Impacts Crypto Investment
A May 2025 SEC ruling clarified that certain staking activities do not constitute securities offerings. This decision removes a major legal barrier for staking-based ETFs and aligns with recent approvals of staked Solana and Ethereum products. Alison Mangiero of the Crypto Council for Innovation called this a “pivotal development” for the sector.
Key Benefits of the Proposed Solana ETF and Staked Crypto ETF
| Feature | Invesco Galaxy Solana ETF | Canary Staked INJ ETF |
|---|---|---|
| Structure | Spot-based, real-time pricing | Staking rewards integrated |
| Risk Mitigation | Cold storage safeguards | Regulated staking platform |
| Market Impact | Accurate SOL tracking | Institutional participation in PoS |
What’s Next for Crypto Investment Products?
The SEC’s review process for the 19b-4 filings may take up to 240 days, with initial feedback expected by September 2025. Approval could pave the way for more staking-based ETFs targeting other proof-of-stake blockchains, further bridging traditional finance and blockchain innovation.
FAQs
1. What is a staked crypto ETF?
A staked crypto ETF allows investors to earn staking rewards while tracking the price of the underlying asset, combining growth potential with passive income.
2. Why is the Solana ETF significant?
The Solana ETF offers direct exposure to SOL through a spot-based structure, avoiding the pitfalls of futures-linked products that may not accurately reflect SOL’s value.
3. How does SEC approval impact staking?
The SEC’s clarification that staking isn’t always a securities offering removes regulatory uncertainty, encouraging more crypto investment products.
4. When will these ETFs launch?
The SEC’s review could take up to 240 days, with potential approval by early 2026.
