Grayscale is exploring the possibility of transforming its Solana Trust (GSOL) into an Exchange-Traded Fund (ETF). Since its establishment in 2021, this trust has managed a total of $134 million in assets. This move makes Grayscale the fifth asset management company seeking to launch a SOL ETF.

The New York Stock Exchange Arca has submitted a 19b-4 application to list this ETF on the exchange. According to the requirements of the U.S. Securities and Exchange Commission (SEC), the exchange needs to notify the SEC of proposed rule changes put forth by self-regulatory organizations through such applications. This marks another significant development in the field of crypto asset management.📈