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Grayscale Solana ETF intends to pass on 77% of net staking rewards, directly accruing that value into the product\u2019s net asset value for investors.<\/p>\n
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According to a press release<\/a> dated Oct. 29, Grayscale Investments has launched its Grayscale Solana Trust (GSOL) on the NYSE Arca exchange. The product, which began its life as a closed-end fund in 2021, uplisted to become an exchange-traded product and is the first in Grayscale\u2019s lineup to incorporate a staking mechanism.<\/p>\n Grayscale said it intends to pass through 77% of the net staking rewards earned from its underlying Solana (SOL) holdings, directly accruing that value into the fund\u2019s net asset value. Notably, this launch follows closely on the heels of Bitwise\u2019s own Solana ETF debut, signaling a rapid expansion of crypto ETPs beyond the dominant Bitcoin and Ethereum markets.<\/p>\n \u201cBitcoin and Ethereum ETPs were just the start, and with GSOL, we\u2019re expanding investor choice, backed by the scale, education, and operational infrastructure advisors and institutions expect,\u201d Inkoo Kang, Senior Vice President, ETFs, at Grayscale said.<\/p>\n<\/blockquote>\n <\/p>\n Grayscale brings considerable heft to this new listing. Founded in 2013, the firm has grown into the world\u2019s largest digital asset manager, reporting approximately $35 billion in total assets under management as of September 30.<\/p>\n The Grayscale Solana ETF itself launched with a substantial foundation, holding 525,387 SOL tokens. This positioned the fund with over $102 million in AUM ahead of its exchange debut. Critically, Grayscale has already staked nearly 75% of its total SOL to generate the rewards intended for investors, according to its website<\/a>.<\/p>\n This launch is part of a significant wave of new crypto products hitting the market this week. Grayscale\u2019s entry came just one day after Bitwise launched its own Solana ETF on the New York Stock Exchange. On that same Tuesday, Canary further diversified the landscape by listing a Litecoin ETF and an HBAR ETF on Nasdaq.<\/p>\n\n
Grayscale\u2019s footprint and a crowded launch week<\/strong><\/h2>\n