Solana ETF filings gain momentum as new SEC applications emerge, including a groundbreaking Pudgy Penguins ETF, signifying expanding institutional crypto interest.
The U.S. Securities and Exchange Commission (SEC) on 26 June acknowledged two new filings for crypto-linked ETFs. The first is the Invesco Galaxy Solana ETF, which tracks the price performance of Solana (SOL), currently the sixth-largest crypto by market cap. The second filing relates to a proposed rule change enabling the listing of a product tied to Pudgy Penguins (PENGU), an NFT-backed token that blends digital collectibles with financial access.
These filings underscore expanding institutional efforts to bring regulated investment vehicles to emerging crypto sectors, from Layer-1 blockchain protocols like Solana to rapidly growing NFT ecosystems such as Pudgy Penguins. As anticipation builds, market watchers await the SEC’s next move. Explore the latest Solana price prediction to see how ETF momentum could impact SOL’s next breakout.
Cboe Pushes for NFT-Backed Pudgy Penguins ETF
The crypto ETF race continues to accelerate. The Cboe exchange has filed to permit trading of the Canary PENGU ETF, backed by Pudgy Penguins tokens. This product aims to expand exposure to NFT-based digital assets in a regulated format. Also check out our updated Pudgy Penguins (PENGU) price prediction to assess future upside potential.
The move follows rising interest in Ethereum and Bitcoin ETFs, and reflects a broader shift toward tokenizing culture-driven assets. As political and regulatory sentiment becomes increasingly crypto-friendly, innovative filings like the PENGU ETF could signal the next evolution in bridging Web3 with traditional finance.
Solana Staking Debate Adds Heat to SEC’s ETF Docket
The SEC is currently reviewing more than two dozen altcoin-related ETF filings, including those tied to Solana, XRP, Dogecoin, Cardano, Polkadot, and Hedera. Several Solana ETF issuers have recently amended their filings to include staking, a practice where users earn rewards by securing blockchain networks.
Previously, similar concerns delayed Ethereum ETF approvals due to staking-related regulatory gray areas. Despite that, optimism is strong. Bloomberg analysts now assign a 95% chance that Solana, XRP, and Litecoin Spot ETFs will be approved by late 2025, signaling a seismic shift in how altcoins are embraced within regulated investment structures.
Galaxy, Coinbase Take the Lead in Altcoin ETF Infrastructure
Trading under the QSOL ticker, the Invesco Galaxy Solana ETF will use Galaxy Digital for execution and Coinbase for custody. Canary’s application for the PENGU ETF further expands its crypto investment suite.
At the time of writing, Solana price hovers near $143, down 1% in the past 24 hours and 18% over the month. PENGU, while flat on the day, has dropped 22% in the same timeframe. Still, with developer activity and institutional backing holding strong, market sentiment remains cautiously bullish.
All eyes are now on the SEC, which is expected to shape the future of Altcoin ETFs over the coming months.
