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Grayscale files for Solana ETF
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Crypto asset manager Grayscale Investments has requested the listing of a Solana spot ETF on the New York Stock Exchange (NYSE). The fund, like GBTC, would invest directly in purchasing SOL, the token that powers the network.
This filing puts Grayscale among the growing list of companies now pushing to list in the United States. The news came from James Seyffart, ETF analyst at Solana, who published it on his X profile on Tuesday (3).
According to Seyffart, the The new fund will have the GSOL code and is a conversion of the manager’s current closed-end fund, which has the same code. Asked by a follower about the chances of approval, Seyffart stated that theThe United States will “eventually” approve a Solana ETF. The analyst said that the ETF should be approved in August 2025 or by 2026.
According to the filing, Grayscale, which is a subsidiary of Digital Currency Group (DCG), plans to list GSOL as a full ETF. The fund will trade under Rule 19b-4 on the NYSE Arca.
Grayscale introduces Solana ETF
This registration makes the Grayscale the fifth asset manager to file for Solana ETF. Previously, Canary Capital, VanEck, 21Shares, and Bitwise have all made related moves before.
The industry is anticipating a change in leadership at the U.S. Securities and Exchange Commission (SEC) that could accelerate the approval of new ETFs for other cryptocurrencies. With this change, the market expects the regulator adopts more flexible policies in the cryptocurrency sector.
However, there are doubts about the approval schedule for the new fund. According to SEC rules, the The deadline for this first analysis is 45 days, which may be extended for another 45 days.. Therefore, the final decision would be promulgated at the beginning of President Donald Trump’s administration.
According to the Grayscale website, the GSOL has around US$120 million in assets under management and its share is valued at US$167.70. There are around 1.4 million shares that make up the portfolio. In Brazil, the Hashdex manager was the first to create a Solana ETF, which has been on B3 since September.
In the subsequent Q&A session, X users asked Seyffart whether the approval timeline might change. Many stated that the SEC could anticipate the decision if major managers such as BlackRock and Fidelity Investments create their orders of Solana ETFs.
“Theoretically it is possible that a new administrator will not follow the procedures adopted by the SEC for decades,” Seyffart responded. However, the analyst said that the agency’s new management may prove resistant to bringing forward deadlines.
Grayscale files for Solana ETF
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Grayscale files for Solana ETF
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Grayscale files for Solana ETF
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Grayscale files for Solana ETF
