Grayscale’s newly converted Solana ETF (GSOL) debuts on NYSE Arca, offering regulated SOL exposure with staking rewards, amid rising competition from rival crypto funds.
Grayscale Investments launched its converted Solana-focused ETF, the Grayscale Solana Trust ETF (GSOL), on NYSE Arca, adding a staking feature that passes network rewards to investors. Originally a closed-end vehicle from 2021, GSOL now offers regulated SOL exposure via brokerage accounts while enabling staking participation. Grayscale claims this makes it one of the largest Solana exchange-traded product managers in the US. Bitwise introduced its own Solana ETF a day earlier, while Canary launched Litecoin and HBAR ETFs, reflecting heightened competition. These approvals benefited from updated SEC listing standards and streamlined registration during a partial US government shutdown. Solana ranks sixth by market cap, and advocates say staking-enabled funds allow holders to earn rewards while supporting the network. Operational details on fees and validator choices remain undisclosed.