PANews reported on December 4 that the NYSE Arca, the exchange-traded products platform of the New York Stock Exchange, submitted a 19b-4 form on behalf of Grayscale Investments on Tuesday to apply for a spot Solana ETF for the Grayscale Solana Trust. This form is used to request a rule change from the U.S. Securities and Exchange Commission (SEC).
According to the application documents, if approved, Coinbase Custody Trust Company, LLC will act as the custodian, and BNY Mellon Asset Servicing will act as the administrator. Over the past year, several institutions, including 21Shares, VanEck, Bitwise Asset Management, and Canary Capital, have been vying to launch a spot Solana ETF.
It is worth noting that Grayscale became one of the institutions approved to trade a spot Bitcoin ETF earlier this year, and subsequently, the SEC also approved spot Ethereum ETFs, including Grayscale's Ethereum products.
