Digital asset manager Grayscale Investments has filed to list a spot Solana (SOL) exchange-traded fund (ETF) with the United States securities regulator.
If approved, the Grayscale Solana Trust, under the ticker GSOL, would trade on the New York Stock Exchange, according to the company’s 19b-4 filing with the US Securities and Exchange Commission (SEC).
The filing is a request to convert its existing Grayscale Solana Trust into spot ETF form — similar to how it converted its now approved spot Bitcoin (BTC) and Ether (ETH) investment products.
According to the filing, “The Trust is the world’s largest Solana investment fund by assets under management as of the date of this filing,” holding roughly $134.2 million in assets under management.
Grayscale joins 21Shares, Canary Capital, VanEck and Bitwise as the other ETF issuer in the race for the SEC’s approval.
Competition to list a spot Solana ETF has intensified as the cryptocurrency’s price has appreciated 275% over the last 12 months to reach a market cap above $110 billion.
This is a developing story, and further information will be added as it becomes available.
