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It's December 2025, and Invesco Galaxy just filed their final paperwork for QSOL, because apparently seven Solana ETFs wasn't enough to satisfy America's appetite for institutionalised gambling on a blockchain that goes down more often than my Wi-Fi during Zoom calls.
Three months ago, the SEC was treating crypto ETFs like that houseguest who keeps asking to crash on your couch. Now? We're getting a new Solana ETF every time someone mentions “institutional adoption.” Franklin Templeton launched theirs literally last week. And here comes Invesco Galaxy, sliding into the SEC's DMs like “hey, room for one more?”
The Details (Or: $100,000 Says “Trust Me Bro”)
Invesco Galaxy filed Form 8-A on December 9th, financial industry speak for “we're ready to rock, just waiting for the bouncer.” They seeded the fund with $100,000, buying 4,000 shares at $25 each. The ticker? QSOL. I can only assume “YOLO” was already taken.
Best part? They could start trading next week. We've gone from “Bitcoin is too volatile for retail” to “here's your eighth way to get institutional exposure to SOL” in about 18 months.
Eight Is a Crowd
If approved, QSOL becomes the eighth U.S. Solana ETF. For context, there are only three major pizza chains, but we need eight different ways to bet on SOL through a brokerage account. Franklin Templeton, Bitwise, VanEck, 21Shares, everyone's invited to this party.
The competition is so intense that CME Group is launching Solana futures on December 15th. Soon you'll be able to trade Solana ETFs, Solana futures, Solana options, and probably Solana-themed NFTs of Solana ETFs. It's derivatives all the way down.
No Discount for You
Here's the kicker: Invesco Galaxy confirmed they will NOT waive their sponsor fee at launch. In an era where fee wars have driven expense ratios below your Netflix subscription, Invesco is basically saying “we know what we've got.”
They added a lawyerly caveat that they “may lower or waive fees from time to time at its discretion,” translation: “If everyone else launches at 0.19% and we're at 0.95%, we'll reconsider.” It's the financial equivalent of opening a premium hot dog stand next to seven other hot dog stands.
The Beautiful Irony
We're watching traditional asset management, the suits who lectured us about “prudent diversification,” fully embrace cryptocurrencies literally created to circumvent traditional finance. Invesco is a $1.5 TRILLION asset manager, and they're now offering exposure to a cryptocurrency that didn't exist seven years ago.
This is like watching your grandfather start a TikTok account, except instead of cringey dance videos, it's $100,000 seed investments in digital tokens.
The timing? Perfect. This is happening while Solana trades around $136, down 4% in 24 hours, with on-chain data showing traders locking in more losses than profits since mid-November. Nothing screams “mature investment product” like launching when your underlying asset is bleeding value.
The Takeaway
I'm not here to tell you whether to buy QSOL. That's between you, your financial advisor, and whatever demon you consulted during the 2021 bull run. But the fact that we're getting our eighth Solana ETF before most people can explain what Solana actually DOES tells you everything about where we are in this market cycle.
The product will probably launch next week. It'll gather a few hundred million from crypto-curious investors who want exposure without self-custody. Invesco collects fees. Franklin Templeton watches their AUM nervously. And somewhere, someone's already filing for a 3x leveraged Solana ETF.
Welcome to 2025, where “Buy SOL” has been transformed into a regulated product with a prospectus, independent audit, and Cboe listing. The future is both more legitimate and more absurd than anyone predicted.
When the ninth Solana ETF launches, and it will, I'll be here, chronicling the beautiful madness of traditional finance learning to love the volatility.
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