Grayscale Files for a Spot Solana ETF

The New York Stock Exchange’s exchange-traded product platform, NYSE Arca, has filed a 19b-4 form on behalf of Grayscale Investments, seeking approval from the US Securities and Exchange Commission (SEC) to launch a spot Solana ETF.

If approved, Coinbase Custody Trust Company would serve as the custodian, and BNY Mellon Asset Servicing would act as the administrator.

Grayscale’s move follows a series of similar filings by other firms, including 21Shares, VanEck, Bitwise Asset Management, and Canary Capital, who have been vying for a spot Solana ETF. Market observers believe that recent changes in the regulatory landscape, including the potential for new leadership at the SEC, have created a more favorable environment for the approval of such products.

Grayscale has already successfully launched spot Bitcoin and Ethereum ETFs, demonstrating its ability to navigate the regulatory process. The potential approval of a Solana ETF would further solidify Grayscale’s position as a leading player in the crypto asset management industry.