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01/26 05:04

Grayscale has filed for a Solana ETF as the invest

Grayscale has filed for a Solana ETF as the investment products gain momentum following the remarkable successes of the Bitcoin and Ethereum ETFs.

Grayscale and the New York Stock Exchange (NYSE) have applied for a Solana exchange-traded fund (ETF). In a Tuesday filing, the asset manager filed with the US Securities and Exchange Commission (SEC) to convert its Solana Trust investment product to an ETF.

The $13 trillion asset management firm disclosed in the filing that it intends to list the ETF product on the NYSE Arca. Per the 19b-4 filing, the fund will track Solana’s price performance and reward its holders accordingly.
Notably, Grayscale launched the Grayscale Solana Trust (GSOL) in November 2021, with the fund recently accruing an asset under management (AUM) of $134 million. However, the fund is only traded on the over-the-counter (OTC) market, limiting its investor reach.

With the filing, the asset manager aims to broaden the fund’s reach to potential investors, providing alternative means of exposure to the fourth-largest cryptocurrency

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