Categories: MarketsMenafn

Grayscale Files to List Spot Solana ETF on NYSE

Prominent cryptocurrency asset manager Grayscale Investments has submitted a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) to list a spot Solana exchange-traded fund on the New York Stock Exchange.

A spot Solana ETF could allow institutional investors to gain exposure to the native cryptocurrency of the smart contract platform through a regulated, easy-to-access fund without having to manage any private keys.

Spot Bitcoin and Ether ETFs are currently already traded on U.S. exchanges, and have added significant buying pressure to both cryptocurrencies, with BTC surpassing $100,000 for the first time last year, the year spot BTC ETFs were launched.

The recent filing reveals Grayscale’s intention to convert its existing Solana Trust into a spot ETF. The proposed trust currently holds approximately $134.2 million in assets under management, making it the largest Solana investment fund globally, according to the filing. This represents a small fraction, roughly 0.1%, of the total Solana in circulation.

Currently, the trust operates as an over-the-counter product, which can lead to discrepancies between its share price and the actual value of the underlying SOL tokens as investors are subject to a 12-month lockup period before being able to sell their shares.

Chances of Spot Solana ETF Approval Grow

Notably, traders on the popular prediction market Polymarket have been increasingly betting on a spot Solana ETF being approved this year, with chances for such a product going live now being around 89%, up from 77% earlier in the month.

A spot Solana ETF is now considered a strong possibility due to an upcoming leadership shift at the SEC. Under the Biden administration, the SEC was often viewed as hostile toward the cryptocurrency sector, frequently accused of regulating through enforcement actions.

However, with the anticipated Trump administration, which has campaigned on a pro-crypto platform, the SEC is expected to adopt a more favorable stance toward the crypto ecosystem. Reports suggest the new administration plans to prioritize cryptocurrency.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Unlock daily passive income through cloud mining: FY Energy helps millions of investors earn daily passive income

Los Angeles, California, 29th August 2025, ZEX PR WIRE, How can one start earning consistent…

20 hours ago

From Price Swings to Steady Gains — APT Miner Delivers $3,000 in Daily Passive Inc

New York, USA, 29th August 2025, ZEX PR WIRE, Ethereum (ETH) recently broke through its…

20 hours ago

XRP Dips As SEC Sets October ETF Dates Amid Lawsuit Finality

The long-running SEC vs. Ripple lawsuit has officially concluded. On August 8, 2025, the U.S.…

1 day ago

$STRAYDOG: From Scraps to Steaks… And Now Giving Back to the Pack

Every street has one… the scarred, hungry stray dog that refuses to die. In crypto,…

1 day ago

Tearline Joins Google for Startups Cloud Program to Accelerate Full-Chain AI for Web3

British virgin Islands, BVI, 28th August 2025, ZEX PR WIRE, Tearline recently announced it has…

2 days ago

Pi Network Preps for Protocol 23: v23.0.1 Ships Ahead of Sept. 3 Mainnet Vote

Pi Network is getting ready for a big update from Stellar. The team is following…

2 days ago