Grayscale files S-1 to list Solana ETF on NYSE

Digital plus manager Grayscale registered with the United States Securities and Exchange Commission (SEC) to database the Grayscale Solana (SOL) Trust exchange-traded money (ETF) connected the New York Stock Exchange (NYSE).

The ETF volition commercialized nether the ticker awesome "GSOL" and volition clasp spot SOL arsenic the underlying asset, according to the April 4 S-1 filing.

Grayscale announced plans to convert its existing Grayscale Solana Trust into an ETF successful its 19b-4 application filed with the SEC successful December 2024.

The filing is among respective crypto ETF applications successful the United States pursuing a regulatory displacement successful Washington DC, and Solana is wide expected to beryllium the adjacent integer plus ETF approved by the SEC.

Grayscale Solana Trust ETF S-1 registration form. Source: SEC

Related: Grayscale files S-3 for Digital Large Cap ETF

Solana terms slumps contempt Trump’s attention

US President Donald Trump successful March announced the inclusion of SOL successful the country’s archetypal crypto reserve, alongside Bitcoin (BTC), Ether (ETH), XRP (XRP), and Cardano's autochthonal token ADA (ADA).

Digital assets held successful the reserve volition beryllium acquired done plus forfeiture and whitethorn not importantly lend to request for SOL oregon terms appreciation.

"A US Crypto Reserve volition elevate this captious manufacture aft years of corrupt attacks by the Biden Administration" and see "made successful America" cryptocurrencies, Trump wrote successful a March 2 Truth Social post.

Following the announcement, SOL's terms declined to multi-week lows and is down astir 60% since its all-time precocious of $295 recorded successful January 2025.

SOL's antagonistic terms performance reflects a broader downturn successful the crypto markets brought connected by fears of a prolonged commercialized war and the Trump administration's tariff policies.

SOL has preformed poorly amid commercialized warfare fears and a broader downturn successful risk-on markets. Source: TradingView

Risk-on assets thin to endure during commercialized wars arsenic investors flee volatile plus classes for much unchangeable alternatives specified arsenic currency and authorities bonds.

The support of a Solana ETF could mitigate this terms diminution by giving accepted fiscal investors vulnerability to SOL and funneling superior from the banal marketplace into the altcoin.

Fresh concern superior pouring into SOL whitethorn prop up prices during wide marketplace downturns, making the altcoin much resilient to terms shocks than integer assets lacking accepted concern vehicles.

Magazine: Solana ‘will beryllium a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame