Grayscale Files Solana ETF With 0.35% Fee, Eyes NYSE Arca Listing

Grayscale Investments is preparing to transform its Solana Trust into a fully regulated exchange-traded fund (ETF), positioning itself to capture institutional demand for Solana ￰0￱ to its latest SEC filing , the trust soon to be renamed Grayscale Solana Trust ETF aims to list its shares on NYSE Arca under the ticker “GSOL.” This move reflects the company’s long-term strategy to convert its digital asset products into ETFs once regulatory conditions allow. Currently, GSOL trades on OTCQX, but listing on a national exchange would enhance liquidity and investor ￰1￱ Moves to Convert Solana Trust Into ETF The Delaware-based trust issues shares representing fractional beneficial ownership in its underlying Solana (SOL) ￰2￱ goal is to mirror Solana’s market price, minus fees and ￰3￱ basket consists of 10,000 shares, created or redeemed by authorized ￰4￱ operations currently depend on cash creations and redemptions, though Grayscale may transition to in-kind transactions once NYSE Arca secures ￰5￱ adjustment would align GSOL with the structure already used by approved Bitcoin and Ethereum ￰6￱ trust lists several key service ￰7￱ Custody acts as the main custodian, Anchorage Digital Bank serves as an additional custodian, and The Bank of New York Mellon functions as the transfer agent and ￰8￱ Polk & Wardwell provides tax counsel, while Foreside Fund Services handles marketing ￰9￱ Activation and Fee Structure Significantly, Grayscale recently enabled Solana staking within the trust, offering investors exposure to staking rewards through traditional brokerage ￰10￱ feature introduces new opportunities for yield generation but also adds technical ￰11￱ filing warns that validators could face losses or reduced incentives, potentially affecting network ￰12￱ ETF will charge a 0.35% sponsor fee, payable in SOL, with no current plan for a ￰13￱ trust clarified that fee adjustments could occur in future updates depending on market competition and operational ￰14￱ Competition From Bitwise As reported by Coinpaper , Bitwise Asset Management has advanced its own Solana ETF proposal, emphasizing staking and cost ￰15￱ latest amendment to the SEC includes a reduced management fee of 0.20% among the lowest in the market and a temporary fee waiver until its first $1 billion in ￰16￱ analysts James Seyffart and Eric Balchunas noted that such pricing signals aggressive competition for early investor ￰17￱ Watch $217 as Key Solana Support