The race to bring Solana into mainstream finance is heating up. Grayscale Investments has quietly advanced its plans for a spot Solana exchange-traded fund (ETF), submitting a new registration document to U.S. regulators that reveals key details about how the product will operate once approved.
According to the latest S-1 filing with the Securities and Exchange Commission, the investment firm intends to charge a management fee of 0.35%, signaling an effort to keep costs low as it competes with other asset managers pushing into the ETF market.
When approved, the product will make its debut on the NYSE Arca under the ticker GSOL and will be renamed the Grayscale Solana Trust ETF. For now, it carries the working title Grayscale Solana Trust (SOL) – a structure that mirrors Grayscale’s approach with previous single-asset funds like its Bitcoin and Ethereum trusts.
Rather than using derivatives or futures, the ETF will directly hold SOL tokens, offering investors exposure to Solana’s price without the complications of crypto custody. Grayscale has outlined a one-to-one price tracking objective and confirmed that no leverage or complex financial instruments will be used.
At the launch stage, the fund will rely solely on cash-based creations and redemptions, though the company plans to transition to in-kind settlement – allowing market participants to exchange Solana directly – once regulators provide clearance.
The operational framework brings together several major financial partners: The Bank of New York Mellon will oversee administrative and transfer duties, while Coinbase Custody Trust Company will safeguard the ETF’s crypto holdings.
This filing represents the next evolution of Grayscale’s GSOL investment vehicle, which currently trades on the OTCQX market. Listing on a major exchange would significantly expand access, opening Solana exposure to both institutional and retail investors for the first time through a regulated product.
Grayscale’s move also highlights a broader trend in traditional finance, as asset managers pivot toward multi-chain investment products beyond Bitcoin and Ethereum. If the SEC grants approval, the Solana ETF could become a landmark moment for alternative layer-1 networks – signaling Wall Street’s growing acceptance of blockchain diversity.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/grayscale-moves-closer-to-launching-solana-etf-with-updated-sec-filing/
