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Grayscale Investments has filed to list a spot Solana (SOL) ETF on the New York Stock Exchange, joining a major growing firm that is seeking to launch Solana ETFs in the U.S. This filing sent Solana’s price surging by $10 immediately.
Grayscale Investments has filed to list a spot Solana (SOL) ETF with the New York Stock Exchange (NYSE), aiming to turn its Grayscale Solana Trust (GSOL) into a full ETF. This move is with Grayscale and several other companies, including VanEck, 21Shares, Canary Funds, and Bitwise, are seeking to launch Solana ETFs in the U.S.
Grayscale Joins Solana ETF
Grayscale’s filing caused with Solana’s price jumping by $10 immediately. This surge highlights the potential of Solana ETF for the crypto community, which would provide a regulated and accessible investment option for both institutional and retail investors. Many see ETFs as a step towards the cryptocurrency adoption globally.
Grayscale, known for its successful Bitcoin Trust. With Solana’s fast, scalable blockchain and lower transaction costs, the ETF filing is a natural step to capitalize on the growing interest in its ecosystem.
Grayscale’s filing makes it the fifth firm to apply for a Solana ETF, following Canary Capital, VanEck, 21Shares, and Bitwise. This is part of a larger trend where larger firms are seeking regulatory approval for crypto ETFs, following the SEC’s approval of Bitcoin ETFs.
With a potential shift in SEC leadership, many expect a more favorable approach to crypto policies, and if approved, a Solana ETF could open the door for other altcoin ETFs in the future.
Trend of Cryptocurrency ETFs
Cryptocurrency ETFs are a major thing happened in 2024, with the SEC approving 11 Bitcoin ETFs earlier this year, Ethereum ETFs as followed. Now, with Grayscale’s filing, Solana is expected to be next in line for an ETF.
As more altcoin ETFs are launched 2025 looking promising as expected.