Grayscale submits Solana spot ETF application to SEC
Grayscale has officially submitted an application to the U.S. Securities and Exchange Commission (SEC) to convert the Solana Trust into a spot exchange-traded fund (ETF). This application, filed under form 19b-4, demonstrates Grayscale's commitment to providing investors with a managed financial product that allows them to access Solana (SOL) through an ETF.
If approved, this ETF will be traded under the ticker GSOL on the New York Stock Exchange (NYSE), marking a significant milestone in the legitimization of cryptocurrency-related investment products in the U.S. Grayscale is currently the fifth company to enter the race to launch a Solana ETF, competing with other institutions such as VanEck, 21Shares, Bitwise, and Canary Capital.
The SEC is expected to review these applications in January 2025, and approval could provide a boost to the cryptocurrency market, as well as to the price of Solana, which has seen significant growth recently.