News Scrap

Grayscale Investments has filed a proposal with the U.S. Securities and Exchange Commission to convert its Grayscale Solana Trust (GSOL) into a spot exchange-traded fund listed on NYSE Arca.

The move aims to improve investor access to Solana (SOL) by allowing shares of the trust to trade as an ETF on a regulated exchange, according to a 19b-4 document submitted Tuesday.

Grayscale, which currently operates the trust as an over-the-counter product, said the ETF conversion would enhance SOL’s price tracking and eliminate inefficiencies caused by its unlisted structure.

Grayscale’s filing is the latest of several requests by crypto asset managers to offer spot Solana ETFs in the U.S., shortly after the re-election of pro-crypto U.S. President-elect Donald Trump last month reignited investors’ interest in digital assets. 

VanEck and 21Shares filed to issue spot Solana ETFs last summer, while Canary Capital applied to launch a Solana-based ETF in October. Meanwhile, Bitwise Asset Management made moves toward applying for a spot Solana ETF last month.

An ETF is a type of financial instrument that allows for the tracking of a particular asset’s price by holding that asset in reserve. A spot Solana ETF would allow institutional and retail investors to gain exposure to Solana without requiring them to hold …