QSOL on CBOE

Invesco Galaxy Solana ETF

American commodity contracts brokers and dealers company based in Atlanta2

In its 2026 annual report the company says: “Invesco Galaxy Solana ETF is a Delaware statutory trust formed on June 12, 2025, pursuant to the Delaware Statutory Trust Act.”4 Its shares trade on CBOE under the symbol QSOL.2

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Last updated Oct 20, 2026.

Overview

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  • TickerQSOL on CBOE2
  • IndustryCommodity Contracts Brokers & Dealers2
  • HeadquartersAtlanta, United States2
  • Incorporated inDE3
  • Business address3500 Lacey Road, Suite 700, Downers Grove, Il 605153
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
  • Legal formFUND2
  • Kind of organizationFund2
  • LEI254900NRTKKQITYSH2972
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O CSC DELAWARE TRUST COMPANY, 19808 Wilmington, United States2
  • Registered withSecurities and Exchange Commission, 00020744092

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Invesco Galaxy Solana ETF (the “Trust”) is a Delaware statutory trust formed on June 12, 2025, pursuant to the Delaware Statutory Trust Act (“DSTA”). The Trust continuously issues common shares representing fractional undivided beneficial interest in and ownership of the Trust (“Shares”). The Trust operates pursuant to its Amended and Restated Declaration of Trust and Trust Agreement, dated as of November 28, 2025 (the “Trust Agreement”). CSC Delaware Trust Company, a Delaware trust company, is the Delaware trustee of the Trust (the “Trustee”). The Trust is managed and controlled by Invesco Capital Management LLC (the “Sponsor”). On October 16, 2025, Invesco Ltd. Purchased 4,000 Shares (the “Initial Seed Shares”) in exchange for $100,000, which comprised the initial purchase of the Trust’s Shares. The Trust commenced trading on the Cboe BZX Exchange, Inc. (the “Exchange”) on December 15,…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.7

Period ending2025-12-312025-11-302025-09-30
Investments in Solana, at value (cost $2,486,522 as of December 31, 2025)$2.2M$0
Cash held by custodian$500
Total Assets$2.2M
Accrued Sponsor's fee$259
Due to broker$500
Total Liabilities$759
Net Assets$2.2M
Paid-in-capital$2.5M
Distributable earnings (loss)-$243.6K
Total Shareholders's Equity$2.2M$0
Shares outstanding180.0K shares
Net asset value per share$12.45$13.84
Market value per share$12.41$12.51
Investment in Solana$2.5M

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What it owns

What Invesco Galaxy Solana ETF reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Properties, in its own words

The Trust does not own or use physical properties in the conduct of its business. The Sponsor’s headquarters are located at 3500 Lacey Road, Suite 700, Downers Grove, Illinois 60515.

Item 2 of the 10-K filed Mar 6, 2026.4

Subsidiaries and ownership

Fund manager

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Timeline

  1. Aug 3, 20268-K Executive or director change8
  2. Jun 5, 20268-K Executive or director change9
  3. Jun 12, 2025Founded Invesco Galaxy Solana ETF is founded2

Filings

20 filings to the SEC since October 2021: 1 annual reports, 2 quarterly reports, 2 major events, 15 other. The latest 20:

  1. Aug 7, 202610-Q EDGAR
  2. Aug 3, 2026424B3 EDGAR
  3. Aug 3, 20268-K EDGAR
  4. Jun 5, 20268-K EDGAR
  5. May 7, 202610-Q EDGAR
  6. Mar 27, 2026424I EDGAR
  7. Mar 6, 202610-K EDGAR
  8. Dec 12, 2025CERT CBOE BZX CERTIFICATION EDGAR
  9. Dec 9, 2025EFFECT EDGAR
  10. Dec 9, 2025424B3 EDGAR
  11. Dec 9, 2025CORRESP EDGAR
  12. Dec 9, 20258-A12B EDGAR
  13. Nov 28, 2025S-1/A EDGAR
  14. Oct 31, 2025CORRESP EDGAR
  15. Oct 31, 2025S-1/A EDGAR
  16. Sep 5, 2025UPLOAD EDGAR
  17. Aug 21, 2025S-1/A EDGAR
  18. Aug 21, 2025CORRESP EDGAR
  19. Jul 22, 2025UPLOAD EDGAR
  20. Jun 25, 2025S-1 EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Susquehanna International Group, Llp200,575$1.5M0.0%−258,425
Jane Street Group, LLC119,720$883.8K0.0%New
Smartleaf Asset Management LLC1,671$12.8K0.0%No change
Stone House Investment Management, LLC650$4.8K0.0%No change
Flow Traders U.s. LLC70,899$5230.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Invesco Galaxy Solana ETF is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARInvesco Galaxy Solana ETF1
  • CIK0002074409
  • Employer ID (EIN)93-68661774
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
  • Business address3500 Lacey Road, Suite 700, Downers Grove, IL 605151
  • Phone800-983-09031
  • Shares outstanding675,000 as of Jun 30, 20265
  • AuditorPricewaterhouseCoopers LLP, Chicago, Illinois PCAOB ID 238; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 25, 20251
  • Filings20 in all: CORRESP (3), S-1/A (3), 10-Q (2), 424B3 (2), 8-K (2), UPLOAD (2), 10-K (1), 424I (1)1
    All 12 form types

    8-A12B (1), CERT (1), EFFECT (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Mar 6, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Latest 8-K (8-K) Aug 3, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares of Beneficial InterestQSOLCboe BZX Exchange, Inc.

From the cover page of the 10-K filed Mar 6, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Invesco Galaxy Solana ETF names in Item 1A of its 10-K filed Mar 6, 2026: 79 risks under these headings, as written.4

  • Risk that Market Price of Shares May Reflect a Discount or Premium to NAV.
  • Risks Related to Solana.
  • Digital asset networks face significant scaling challenges and efforts to increase the volume and speed of transactions may not be successful.
  • The value of the Trust’s investments in SOL could decline rapidly, including to zero.
  • SOL’s historical volatility may be due to speculation regarding potential future appreciation in value, which could adversely affect an investment in the Shares.
  • Some market observers have asserted that the SOL market often experiences pricing “bubbles” and have predicted that, in time, the value of SOL will fall to a fraction of its current value, or even to zero.
  • The price of SOL may be impacted by the behavior of a small number of influential individuals or companies.
  • Adoption Risk.
  • User adoption of SOL may slow down, stop, or reverse.
  • Currently, there is relatively limited use of SOL in the retail and commercial marketplace in comparison to relatively extensive use as a store of value, thus contributing to price volatility that could adversely affect an investment in the Shares.
  • Competition from central bank digital currencies (“CBDCs”) and other digital assets could adversely affect the value of SOL and other digital assets.
  • Competing digital assets may adversely affect the value of SOL and digital assets.
The other 67 risks
  • Prices of SOL may be affected due to stablecoins (including Tether and U.S. Dollar Coin (“USDC”)), the activities of stablecoin issuers and their regulatory treatment.
  • The open-source structure of the Solana network protocol means that certain core developers and other contributors may not be directly compensated for their contributions in maintaining and developing the Solana network protocol. A failure to properly monitor and upgrade the Solana network protocol could damage the Solana network.
  • Lack of clarity in the corporate governance of SOL may lead to ineffective decision-making that slows development or prevents the Solana network from overcoming important obstacles.
  • Cybersecurity Risk Related to Solana.
  • Flaws in the source code of Solana, or flaws in the underlying cryptography, could leave the Solana network vulnerable to a multitude of attack vectors.
  • Smart contracts are new and their ongoing development and operation may result in problems or be subject to errors or hacks, which could reduce the demand for SOL or cause a wider loss of confidence in the Solana network, either of which could have an adverse impact on the value of SOL.
  • SOL transactions are irrevocable and stolen or incorrectly transferred SOL may be irretrievable. As a result, any incorrectly executed SOL transactions could adversely affect an investment in the Trust.
  • Security threats to the Trust’s account with the Solana Custodian could result in the halting of Trust operations and a loss of Trust assets or damage to the reputation of the Trust, each of which could result in a reduction in the price of the Shares.
  • If the Solana Custody Agreement is terminated or the Solana Custodian or the Prime Broker or Staking Provider fail to provide services as required, the Sponsor may need to find and appoint a replacement custodian, prime broker and/or staking provider, which could pose a challenge to the safekeeping and safe transfer of the Trust’s SOL, and the Trust’s ability to continue to operate may be adversely affected.
  • Loss of a critical banking relationship for, or the failure of a bank used by, the Execution Agent could adversely impact the Trust’s ability to create or redeem Creation Baskets, or could cause losses to the Trust.
  • The Execution Agent may utilize the services of the Prime Broker to route Trust orders through certain Connected Trading Venues. The loss or failure of any such Connected Trading Venues may adversely affect the Execution Agent’s ability to execute the Trust’s SOL transactions and cause losses for the Trust.
  • A disruption of the internet may affect the use of SOL and subsequently the value of the Shares.
  • Regulatory Risk.
  • As SOL and the broader digital assets ecosystem has grown, it has begun to attract more regulatory attention around the globe. The future regulatory environment is uncertain and may vary by country or even within countries. Failure to appropriately regulate the digital assets ecosystem could stifle innovation, which could adversely impact the value of the Shares.
  • As an owner of Shares, you will not have the rights normally associated with ownership of other types of shares.
  • The Sponsor and the Trustee may agree to amend the Trust Agreement without the consent of the Shareholders.
  • Shareholders do not have the protections associated with ownership of Shares in an investment company registered under the 1940 Act or the protections afforded by the CEA.
  • The exclusive jurisdiction for certain types of actions and proceedings and waiver of trial by jury clauses set forth in the Trust Agreement may have the effect of limiting a Shareholder’s rights to bring legal action against the Trust and could limit a purchaser’s ability to obtain a favorable judicial forum for disputes with the Trust.
  • As the Sponsor and its management have relatively limited history of operating investment vehicles like the Trust, their experience may be inadequate or unsuitable to manage the Trust.
  • Future regulations may require the Trust and the Sponsor to become registered, which may cause the Trust to liquidate.
  • The treatment of the Trust for U.S. federal income tax purposes is uncertain.
  • The tax treatment of SOL, SOL staking and transactions involving SOL for U.S. federal income tax purpose is uncertain and may change, which could adversely affect the value of an investment in the Shares.
  • A hard “fork” or airdrop of the Solana blockchain could result in Shareholders incurring a tax liability.
  • A U.S. Tax-Exempt Shareholder may recognize “unrelated business taxable income” as a consequence of an investment in the Shares.
  • Intellectual property rights claims may adversely affect the operation of the Solana network.
  • Risks Related to the Markets and Service Ecosystems for SOL
  • The venues through which cryptocurrencies (including SOL) trade are relatively new and may be more exposed to operational problems or failure than trading platforms for other assets, which could adversely affect the value of SOL and therefore adversely affect an investment in the Shares.
  • Anonymity and illicit financing risk.
  • Spot SOL markets may be exposed to fraud and market manipulation.
  • Spot SOL markets may be exposed to wash trading.
  • Spot SOL markets may be exposed to front-running.
  • Political or economic crises may motivate large-scale sales of SOL, which could result in a reduction in the prices of SOL and adversely affect an investment in the Shares.
  • Validators may suffer losses due to staking, or staking may prove unattractive to validators, which could make the Solana network less attractive.
  • Ownership of SOL is pseudonymous, and the supply of accessible SOL is unknown. Entities with substantial holdings in SOL may engage in large-scale sales or distributions, either on nonmarket terms or in the ordinary course, which could result in a reduction in the price of SOL and adversely affect an investment in the Shares.
  • A temporary or permanent blockchain “fork” could adversely affect an investment in the Shares.
  • The SEC has approved generic listing standards for commodity-based trust shares and may approve other applications under Rule 19b-4 of the Exchange Act to list competing digital asset backed investment vehicles as exchange-traded products, which could reduce demand for, and the price of, SOL and adversely impact the value of the Shares.
  • Risks Related to the Trust and the Shares.
  • Several factors may affect the Trust’s ability to achieve its investment objective on a consistent basis.
  • The Trust is subject to risks due to its concentration of investments in a single asset.
  • Shareholders will not receive the benefits of any forks or “airdrops.”
  • The Trust is subject to management and operational risks from its Sponsor and service providers.
  • The Trust’s Prime Broker or Solana Custodian could become insolvent or become subject to a receivership or bankruptcy proceeding, which may result in a loss of or delay in access to Trust assets.
  • The Trust has entered into a written agreement with the Staking Provider, which may not achieve the intended staking rewards and could adversely affect the value of the Shares.
  • The Trust’s risk management processes and policies may prove to not be adequate to prevent any loss of the Trust’s SOL.
  • The Trust’s Policy for managing the liquidity risks of staking may not fully prevent the Trust from experiencing liquidity challenges, especially in extreme or stressed market conditions.
  • The development and commercialization of the Trust is subject to competitive pressures and may be adversely affected by competition from competing products and other investment vehicles focused on SOL or other digital assets.
  • The value of the Shares may be influenced by a variety of factors unrelated to the value of SOL.
  • The NAV may not always correspond to the market price of the Shares.
  • Shareholders may be adversely affected by an overstatement or understatement of the NAV calculation of the Trust due to the valuation methodology employed on the date of the NAV calculation.
  • Benchmark correlation risk.
  • To the extent the Trust makes use of cash creations and redemptions, such transactions may adversely affect arbitrage mechanism and/or impair efficiency in primary market transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of SOL and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
  • SOL buying and selling activity associated with the creation and redemption of Creation Baskets, or withdrawal from participation by an Authorized Participant, may adversely affect an investment in the Shares of the Trust.
  • Authorized Participant risk.
  • The inability of Authorized Participants to hedge their SOL exposure may adversely affect the liquidity of Shares and the value of an investment in the Shares.
  • The market infrastructure of the SOL spot market could result in the absence of active Authorized Participants able to support the trading activity of the Trust.
  • SOL spot trading platforms are not subject to the same regulatory oversight as traditional equity exchanges, which could negatively impact the ability of Authorized Participants to implement arbitrage mechanisms.
  • Only Authorized Participants may transact in Creation Baskets.
  • Solana Counterparty risk.
  • Shareholders may be adversely affected by creation or redemption orders that are subject to postponement, suspension or rejection under certain circumstances.
  • The lack of active trading markets for the Shares of the Trust may result in losses on Shareholders’ investments at the time of disposition of Shares.
  • Shareholders could incur a tax liability without an associated distribution of the Trust.
  • The amount of SOL represented by the Shares will decline over time.
  • Any errors or changes in calculations used to value the Trust’s SOL holdings and SOL holdings per Share may have an adverse effect on the value of the Shares.
  • The value of the Shares will be adversely affected if the Trust is required to indemnify the Sponsor, the Trustee, the Transfer Agent, the Solana Custodian, Staking Provider or the Cash Custodian.
  • The Sponsor and its affiliates are subject to conflicts of interest that could adversely affect an investment in the Trust.
  • Investment vehicles advised or managed by affiliates of the Sponsor hold a minority interest in Coinbase Global, the parent of Coinbase Inc., which serves as the Trust’s Prime Broker and operates one of the digital asset trading platforms included in the Benchmark price and is the parent of the Solana Custodian.
  • There is no guarantee that every employee, officer, director or similar person associated with the Sponsor, the Execution Agent or their affiliates will comply with the policies, duties and training and refrain from engaging in insider trading in violation of their duties to the Trust, the Sponsor or the Execution Agent.
  • Limited recourse.

Sources

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