Grayscale Investments has filed with the SEC to convert its Grayscale Solana Trust into a spot Solana ETF. This proposed ETF, under the ticker GSOL, could potentially be listed on the NYSE, offering investors a more accessible way to invest in Solana.
The Grayscale Solana Trust, currently the world’s largest Solana investment fund with $134.2 million in assets, holds approximately 0.1% of all SOL tokens. If approved, Coinbase Custody would serve as the custodian, and BNY Mellon Asset Servicing would act as the administrator for the ETF.
Grayscale’s move comes amid a surge of interest in Solana ETFs, with other firms like VanEck, 21Shares, and Bitwise also filing for similar products. Solana’s impressive growth in the past year has further fueled this interest.
With the SEC actively reviewing multiple Solana ETF applications and the recent pro-crypto developments in the US, Grayscale is optimistic about the potential for a quicker approval process.