Michael Novogratz's Galaxy And Invesco File To Launch Solana ETF: What You Should Know About QSOL
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 26 2025
0mins
Source: Benzinga
Invesco's New ETF Filing: Invesco has filed for a cryptocurrency exchange-traded fund (ETF) focused on Solana, in collaboration with Galaxy Digital, aiming to expand its offerings beyond Bitcoin. The proposed ETF will be listed under the ticker "QSOL" on the Cboe BZX exchange.
Regulatory Context: Several companies have recently updated their filings for Solana ETFs to address SEC inquiries, with analysts suggesting that the SEC may act quickly on these spot Solana ETFs.
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Analyst Views on GLXY
Wall Street analysts forecast GLXY stock price to rise
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 30.130
Low
24.00
Averages
43.89
High
60.00
Current: 30.130
Low
24.00
Averages
43.89
High
60.00
About GLXY
Galaxy Digital Inc. is engaged in the business of digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence (AI). The Company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, it develops and operates data center infrastructure to power AI and high-performance computing workloads. The Company's segments include Digital Assets, Data Centers, and Treasury and Corporate. Its Digital Assets operating business segment provides new products and capabilities such as staking, margin-based financing and active exchange-traded funds. The Data Centers segment comprises the Helios infrastructure assets. The Company's Data Centers segment develops and operates High Performance Computing (HPC) infrastructure to meet the growing demand for large-scale, power-ready facilities in the AI/HPC industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Future Capacity Plans: The campus is expected to support 500 MW of power by the second half of 2028, with an additional 500 MW planned for 2030, indicating the company's proactive positioning in response to future AI market demands.
- Infrastructure Advantage: CEO Paul Prager highlighted that power infrastructure and transmission access are the biggest constraints in the AI market, and the project's dedicated 345 kV substation will connect to the existing 765 kV transmission network, ensuring a faster path to power than competing projects.
- Positive Market Reaction: TeraWulf's stock reached $25 in early morning trading, with retail investor sentiment shifting from neutral to bullish, reflecting market confidence in the management's execution capabilities.
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- Removals: Conversely, companies such as eHealth, SelectQuote, GoHealth, Lument Finance Trust, and Rithm Property Trust will be removed from the Russell 3000 Index, potentially putting downward pressure on their stock prices and affecting investor confidence.
- Market Reaction Expectations: The inclusion of financial firms in the Russell 3000 Index typically attracts more institutional investor interest, which could drive up their stock prices, especially if the overall sentiment towards financial stocks is positive.
- Industry Dynamics Analysis: Galaxy Digital's identity crisis and the controversy surrounding its BitGo deal may impact its performance in the new index, while other newcomers like BRC Group Holdings and Gemini Space Station could leverage this opportunity to strengthen their market positions.
See More
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- Optimistic Outlook for BitMine: Despite reporting a Q2 2026 loss per share of $0.08 and quarterly revenue of $11.04 million, analysts expect BitMine's earnings to increase by 48.28% next year, reflecting optimism around its mining and Ethereum treasury strategies.
- Muted Market Sentiment: Amidst a generally weak cryptocurrency market, Ethereum's price has dropped over 4% in the last 24 hours, while retail sentiment around ETH remains in the 'bearish' zone, indicating cautious investor attitudes towards future performance.
See More
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- Transaction Breakdown Reasons: The proposed merger in 2021 was the largest in the crypto sector but fell apart due to a market crash, with BitGo alleging Galaxy did not make sufficient efforts to complete the deal, while Novogratz countered that BitGo failed to provide necessary financial statements on time.
- Regulatory Challenges: Novogratz stated that Galaxy proposed a merger in Canada to sidestep SEC regulations, but both companies eventually recognized the unlikelihood of obtaining SEC approval, reflecting the regulatory hurdles faced by the crypto industry.
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See More
