Grayscale investments has officially submitted a proposal to the US Securities and Exchange Commission (SEC), requesting the converting your Grayscale Solana Trust (GSOL) to a cash exchange-traded fund (ETF)which would be listed on NYSE Arca.
This proposalpresented on December 3, is part of the The company’s strategy to improve accessibility to Solana
SUN
$232.92
for investors.
The ETF concept revolves around tracking the price of an underlying asset, such as Solana, while holding the asset in reserve. This structure offers a simplified way for investors to gain exposure to the cryptocurrency market, with additional regulatory oversight and more fluid trading options.
Did you know?
Do you want to become smarter and richer with cryptocurrencies?
Subscribe: We publish new cryptocurrency explainer videos every week!
What is Web3? (Animated explanation + Examples)
Grayscale fill arises from successful ETF conversions for your Bitcoin
btc
$95,727.01
Trust (GBTC) in January and Ethereum
ETH
$3,800.56
Trust (ETHE) in July 2024which became spot ETFs.
The filing shows that Solana Trust holds around $134.2 million in assets, representing 0.1% of SOL’s total circulating supply. The trust’s shares are traded under the symbol “GSOL” on OTC markets.
Grayscale hopes to list the trust as an ETF on NYSE Arca greatly improve liquidity and align the trust with other widely recognized financial products.
Currently, Grayscale Solana Trust operates as an over-the-counter (OTC) productwhich has limited its market efficiency and its ability to track Solarium price accurately.
When Grayscale decided to convert its Solana Trust into a spot ETF, Ethereum ETFs recently broke records with massive inflows. What is driving this surge in interest in Ethereum ETFs? Read the full story.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
With almost a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that cryptocurrency enthusiasts face. He is a passionate analyst who cares about data- and fact-based content, as well as that which speaks to both Web3 natives and newcomers to the industry.
Aaron is the go-to person for all things digital currencies. With a strong passion for blockchain and Web3 education, Aaron strives to transform the space as we know it and make it more accessible to beginners.
Aaron has been quoted by several established media outlets and is a published author himself. Even during his free time, he likes to research market trends and look for the next supernova.
