6 months ago
Grayscale has go the latest entrant into the Solana ETF sweepstakes arsenic it looks to person its existing Solana Trust (GSOL) into an exchange-traded fund.
A 19b-4 filing submitted by NYSE Arca, the speech that would database the fund, was made connected Tuesday evening. The U.S. Securities and Exchange Commission (SEC) requires exchanges to taxable specified a filing to pass the SEC of a projected regularisation alteration by a self-regulatory enactment (SRO) specified arsenic an exchange.
Grayscale is present the 5th plus manager that has filed to motorboat a Solana ETF, pursuing Bitwise, VanEck, 21Shares and recently formed Canary Capital, each of which announced plans earlier this year.
Grayscale already successfully converted its flagship Ethereum and Bitcoin trusts into ETFs earlier this year. The institution launched the closed-end Solana Trust in 2021 arsenic its 16th concern merchandise and it present holds $134 cardinal successful assets nether absorption per this evening's filing.
Alongside overmuch of the remainder of the crypto market, Solana has seen a crisp rally this twelvemonth — peculiarly truthful since the aboriginal November predetermination of Donald Trump which promised a friendlier regulatory situation for the industry.
SOL jumped astir 3% connected this evening's filing and is present up much than 130% year-to-date.
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