Grayscale Proposes Converting Solana Trust to Spot ETF on NYSE Arca

Grayscale Investments has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Solana Trust (GSOL) into a spot exchange-traded fund (ETF) listed on NYSE Arca.

According to a 19b-4 filing submitted Tuesday, the conversion aims to improve investor access to Solana (SOL) by enabling shares of the trust to trade as an ETF on a regulated exchange. Grayscale believes this transition will enhance SOL’s price tracking and eliminate inefficiencies associated with the trust’s current over-the-counter (OTC) structure.

This move is part of a broader push by crypto asset managers to launch spot Solana ETFs in the U.S. Recent filings from firms like VanEck, 21Shares, Canary Capital, and Bitwise Asset Management have highlighted growing interest in Solana-based ETFs, especially after pro-crypto U.S. President-elect Donald Trump’s re-election last month renewed optimism in the digital asset sector.