Grayscale Files Application to Launch a Spot Solana ETF
Grayscale Investments has filed with the US Securities and Exchange Commission (SEC) to launch a spot Solana exchange-traded fund (ETF).
If approved, the Grayscale Solana Trust, trading under the ticker GSOL, would be listed on the New York Stock Exchange. This would mark a significant step for Solana, following in the footsteps of Grayscale’s successful conversions of its Bitcoin and Ether trusts into ETFs.
The proposed Solana ETF would be a conversion of the existing Grayscale Solana Trust, which currently holds approximately $134.2 million in assets under management, making it the world’s largest Solana investment fund. Grayscale noted that the Solana it holds represents about 0.1% of all SOL in circulation.
Coinbase Custody would serve as the custodian for the spot Solana ETF, while BNY Mellon Asset Servicing would act as the administrator and transfer agent of the Trust.
