Grayscale Investments has launched the Grayscale Solana Trust ETF (GSOL) on NYSE Arca. The ETF offers investors exposure to Solana, along with staking incentives. GSOL debuted in 2021 as a closed-end fund, and it's now an ETF, making it easier to trade through standard brokerage accounts.
Solana is the sixth-largest cryptocurrency by market capitalization. Grayscale is now among the largest Solana ETP managers in the US. Other organizations, including Bitwise and Canary, have recently established their own Solana, Litecoin, and HBAR ETFs, despite the continuing US government shutdown, which affects the SEC's staffing.
The SEC has established new criteria to expedite the approval of ETFs. This new rule lets companies go public within 20 days after completing an S-1 registration without delay. These modifications may help bring additional crypto ETF products to market faster.
Kristin Smith of the Solana Policy Institute explained that staking through ETFs such as GSOL allows investors to earn rewards while also supporting the Solana network, which fuels innovation and secures the blockchain.
