Grayscale Investments has launched the Grayscale Solana Trust ETF (GSOL) on NYSE Arca. The move makes it the first Grayscale product with staking features to trade under the SEC’s new listing rules. The ETF lets investors gain exposure to Solana while earning staking rewards built into the fund’s net asset value.
According to the press release, GSOL is structured as a trust, not a mutual fund, so it does not follow the same investor protection rules under the Investment Company Act of 1940.
Therefore, Grayscale warned that investing in the product carries risks, including the possible loss of principal. Even so, the firm said its goal is to offer a bridge between traditional finance and the digital asset market through institutional safeguards and secure custody solutions.
“Today’s GSOL launch underscores our conviction that the modern portfolio includes digital asset exposure for growth and diversification alongside equities, bonds, and alternatives,” said Inkoo Kang, Senior Vice President for ETFs at Grayscale.
Moreover, he added that Bitcoin and Ethereum products were just the beginning and that GSOL expands investor choice with scale and education.
Meanwhile, Kristin Smith, President of the Solana Policy Institute, praised the launch as a major step for Solana. “The rails of global finance are being rebuilt on Solana,” she said. “Now millions of investors can gain exposure through Solana staking ETPs like Grayscale’s GSOL. Investors also help secure the network and earn rewards.”
In addition, the ETF launch follows Bitwise Asset Management’s Solana ETF, BSOL, which started trading one day earlier. Grayscale’s entry into Solana staking shows the growing demand for institutional exposure to the network. According to a recent SEC filing, GSOL will carry a 0.35% management fee, payable in Solana tokens.
Given the excitement, Solana’s price rose about 1% to $200 before the U.S. Federal Reserve’s October decision. Its trading volume rose by 5.47% in the last 24 hours, showing continued interest from traders.
SOL price action | Source: CoinMarketCap
That said, Solana keeps growing as a fast and affordable blockchain that attracts developers and big companies. Recently, Western Union said it will launch a U.S. dollar stablecoin on Solana, showing how the network is becoming more important in digital finance.
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