Grayscale Investments has filed to convert its $134 million Solana Trust into a spot-based ETF on NYSE Arca. The news adds to optimism for Solana as the ETF allows institutional investors to gain exposure to SOL without having to own it outright. In addition to Grayscale, several other firms such as VanEck and 21Shares have also filed applications for Solana-based ETFs, indicating strong interest from the institutional market