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Invesco, Galaxy File For Spot Solana ETF As 9th Bidder
Crypto Trends

Invesco, Galaxy File For Spot Solana ETF As 9th Bidder

by admin June 26, 2025



Nine asset managers are now looking to launch an exchange-traded fund (ETF) tracking Solana, with Invesco the latest to join the bidding as the firm looks to push products beyond Bitcoin and Ethereum.

In a regulatory filing on Wednesday, Invesco and Galaxy Digital put forward the Invesco Galaxy Solana ETF, which aims to track the spot price of Solana (SOL), currently the sixth-largest cryptocurrency by market cap.

It’s the ninth filing for a Solana-tracking ETF, joining bids from the likes of VanEck, Bitwise and crypto ETF giant Grayscale.

The firms are looking to test the market’s appetite for so-called altcoins after the big success of Bitcoin (BTC) ETFs launched in early 2024 and milder wins for funds tied to Ether (ETH) that launched later that year.

The Trump administration has promised to ease regulations on crypto, setting off a wave of optimism through the sector that has seen Bitcoin hit new highs and triggered a slate of public companies to collectively raise billions to invest in Bitcoin long-term.

Invesco Galaxy fund to directly hold Solana

Invesco and Galaxy’s filing, a Form S-1 registration statement that tells the Securities and Exchange Commission it plans to launch a security, lays out that the planned ETF plans to directly hold Solana — the same as other competing ETFs.

If approved by the regulator, the ETF would trade on the Cboe BZX exchange under the ticker “QSOL.”

The firms will need to submit what’s called a Form 19b-4, which records a rule change with the SEC, for the agency to begin the process of considering approving the ETF.

This is a developing story, and further information will be added as it becomes available.

Magazine: Baby boomers worth $79T are finally getting on board with Bitcoin



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June 26, 2025 0 comments
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Switch 2 Scalpers Are Auctioning Off Their Preorders to the Highest Bidder
Gaming Gear

Switch 2 Scalpers Are Auctioning Off Their Preorders to the Highest Bidder

by admin June 4, 2025


Nintendo’s Switch 2 launch is underway worldwide. The console officially releases June 5, meaning buyers in territories in earlier time zones have already gotten their hands on it. As midnight rolls across North America, players here will do the same. Many fans preordered their Switch 2, allowing them to skip the in-person lines planned for midnight sales at retail stores. Others are currently bidding on consoles being sold by scalpers.

Sellers on sites like eBay and Mercari have created their own ecosystem of preorder sales, capitalizing on fears that the ongoing tariff drama and possible stock shortages will make the Switch 2 scarce. The console, which retails at $450, is selling for several hundred dollars more on the resale sites. One listing, which promises to ship June 6, is selling for $849 or “best offer.” Other listings are actively being bid on. On Mercari, consoles are selling in the $600 range and above.

There are good reasons for people to be anxious. Nintendo has a history of supply shortages, including with the Switch 2’s predecessor; in Japan, the company has already warned customers that demand may exceed supply. Nintendo prepared for the possibility of scalping ahead of the game console’s preorder period; buyers who wanted a unit directly from their stores could only purchase one system per account and had to meet specific requirements, including 50 hours of playtime on their Switch account.

Buyers who wanted to snatch more than one Switch could still place multiple orders through other retailers, like Amazon or Walmart. According to online message boards, some did; others confessed to buying from scalpers after failing to find their own. “I have no shame,” wrote a user on the GameFaqs forum. “Roughly 700.00 [USD]. Including priority air next day shipping…no Mario Kart bundle. I couldn’t wait any longer.”

Reached by WIRED, Nintendo would not immediately comment. Earlier this month, the company announced that it would be working with Mercari, Yahoo Auctions, Yahoo Fleamarket, and Rakuten Rakuma to remove listings and ban users—but only in Japan. Crackdowns on the resale sites will begin June 5 as part of a probationary period. It’s unclear if these measures will be implemented in other regions.

The global market may also yet have a part to play. Nintendo made the unprecedented move of temporarily delaying preorders after the console’s in-person unveiling, following extreme tariff announcements made by President Donald Trump. Although the price of the console itself hasn’t been impacted—for now—many accessories are now more expensive than previously announced. As even older game consoles grow more expensive, it’s not impossible that the Switch 2’s price will increase after launch.

Still, buyers turning to secondhand sellers may be left Switchless after all, due to preorder delays and cancellations. Earlier this week, some retailers were reportedly canceling preorders due to system errors or stock shortages.



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June 4, 2025 0 comments
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