Grayscale Files SEC for Solana Spot ETF
Grayscale Investments has filed with the US Securities and Exchange Commission (SEC) to convert its Grayscale Solana Trust into a spot ETF. If approved, the fund would list on the New York Stock Exchange (NYSE) under the ticker symbol GSOL, giving investors direct access to Solana (SOL). The filing, filed on Form 19b-4, represents Grayscale’s effort to expand its portfolio of fund products, following the successful conversion of its Bitcoin and Ethereum funds into ETFs earlier.
The Grayscale Solana Trust is currently the world’s largest Solana investment fund, with $134.2 million in assets under management at the time of filing. However, a major challenge remains as the SEC has not approved any spot ETFs related to Solana and other altcoins due to concerns about security and regulation. Competition for a Solana ETF is also growing, with other companies like VanEck and 21Shares also joining the race, showing Solana's strong appeal in the crypto space today.