Recent SEC filings provide detailed financial and operational data for the Trust as of September 30, 2026. No recent public news coverage is available.

• The Trust held 58,084 SOL valued at approximately $6.89 million as of September 30, 2026, including $3.45 million of staked SOL, reflecting growth from prior periods [S2].
• Net income for the nine months ended September 30, 2026, was $889,613, including net staking income of $93,940 and total expenses of $8,738 [S2].
• The Trust had 575,000 shares outstanding with a net asset value per share of $11.89 as of September 30, 2026 [S2].
• The Sponsor fee is 0.25% per annum of daily net assets, and the Trust does not use leverage or derivatives [S1][S2].
• The Trust is passively managed and does not engage in active trading or hedging of SOL holdings [S1].

The Trust provides investors with direct exposure to Solana cryptocurrency combined with staking rewards, which may enhance returns relative to un-staked holdings. The passive management and use of a regulated custodian reduce operational risks. The backing by Invesco, a global investment manager, supports operational stability and regulatory compliance. The Trust's structure allows for efficient creation and redemption of shares by authorized participants, facilitating liquidity. The growing adoption of Solana and staking mechanisms could increase investor interest in such ETFs.

The Trust's performance is subject to the volatility and regulatory risks inherent in the cryptocurrency market, particularly Solana. The passive management approach means the Trust does not hedge against price declines or market downturns. The staking rewards depend on the Sponsor's discretion and regulatory environment, which could change. The Trust's reliance on third-party custodians and staking providers introduces operational risks. Competition from other crypto investment products and potential regulatory changes could impact the Trust's attractiveness and operations.

The Trust's moat derives from its specialized structure as a Delaware statutory trust offering exposure to Solana cryptocurrency with staking rewards, managed by a reputable global investment manager, Invesco. The use of a regulated custodian (Coinbase Custody Trust Company) for cold storage of digital assets and the passive management approach reduce operational risks. The Trust's ability to stake SOL and capture staking rewards provides a potential performance advantage relative to simple price tracking. The regulatory compliance and established governance framework support investor confidence. However, the moat is limited by the inherent volatility and regulatory uncertainties of the cryptocurrency market and the availability of competing crypto ETFs or investment vehicles.

• Cryptocurrency Market Volatility: The Trust's net asset value and performance are highly sensitive to the price fluctuations of Solana (SOL), which can be volatile and unpredictable.
• Regulatory and Legal Risks: Changes in laws or regulations affecting cryptocurrency staking, custody, or ETFs could impact the Trust's ability to operate or stake SOL.
• Operational Risks: The Trust relies on third-party custodians and staking providers, which introduces risks related to security breaches, custody failures, or service interruptions.
• Staking Risks: The Sponsor's discretion in staking and maintaining liquidity could affect staking rewards and the Trust's returns. Regulatory concerns may limit staking activities.

• Invesco Galaxy Solana ETF is a Delaware statutory trust formed on June 12, 2025, managed by Invesco Capital Management LLC as Sponsor and CSC Delaware Trust Company as Trustee.
• The Trust continuously issues common shares representing fractional undivided beneficial interest in the Trust.
• The Trust commenced trading on the Cboe BZX Exchange on December 15, 2025.
• The investment objective is to reflect the performance of the spot price of Solana (SOL) as measured by the Lukka Prime Solana Reference Rate, adjusted for staking rewards and expenses.
• The Trust holds SOL cryptocurrency and seeks to stake substantially all SOL to earn staking rewards, subject to legal and regulatory considerations.
• The Sponsor has determined that staking conditions have been satisfied and engages in staking on behalf of the Trust, maintaining a liquidity sleeve of unstaked SOL for liquidity management.
• The Trust is passively managed and does not actively trade or hedge SOL holdings; it does not use leverage or derivatives but may use short-term credit facilities for liquidity.
• Coinbase Custody Trust Company, LLC serves as the Solana Custodian, holding all SOL in cold storage, with some SOL possibly held in a trading account with Coinbase, Inc.
• The Trust values its shares daily based on the estimated fair market value of SOL provided by Lukka Inc., an independent third-party data provider.
• Shares are offered only to eligible financial institutions (Authorized Participants) in blocks of 5,000 shares called Creation Baskets.
• As of September 30, 2026, the Trust held 58,084 SOL with a fair value of approximately $6.89 million, including $3.45 million of staked SOL.
• Net assets as of September 30, 2026, were approximately $6.83 million with 575,000 shares outstanding and a net asset value per share of $11.89.
• The Trust earned net staking income of $93,940 for the nine months ended September 30, 2026, with total expenses of $8,738, primarily Sponsor fees.
• Net income for the nine months ended September 30, 2026, was $889,613, reflecting realized and unrealized gains and losses on SOL investments.
• The Sponsor fee is 0.25% per annum of the daily total net assets of the Trust.
• The Trust's only ordinary recurring expense is the Sponsor Fee.
• The Trust's financial figures are summarized from the latest available SEC filings and are provided for informational purposes only — not financial advice.