Grayscale Investments has officially listed its Grayscale Solana ETF (GSOL) on the NYSE Arca, introducing the first exchange-traded fund that provides exposure to both Solana’s price performance and its network staking rewards. The launch marks a significant step in bridging traditional financial products with the yield-generating capabilities of blockchain technology.

From Private Trust to Public ETF

The product began its life as the Grayscale Solana Trust in 2021, operating as a closed-end fund before being listed on the OTCQX market in 2023. Its latest evolution into an Exchange-Traded Fund (ETF) structure offers investors a more seamless and regulated vehicle for accessing the Solana ecosystem and its staking rewards through a conventional brokerage account.

A central feature of the GSOL ETF is its integrated staking mechanism. The fund participates in Solana’s Proof-of-Stake protocol and aims to distribute 77% of the net rewards to its shareholders. These rewards are reflected in the fund’s Net Asset Value (NAV), creating an opportunity for compounded returns over time. The product is not registered under the Investment Company Act of 1940, meaning it operates with fewer federal protections than many traditional funds.

Tapping into a High-Performance Blockchain

Solana serves as the underlying technology for the ETF and is recognized for its high transaction speeds and low costs. This efficiency has attracted a growing number of developers and institutions building decentralized applications (DApps) and other financial tools. The Grayscale Solana ETF meets the Securities and Exchange Commission (SEC) approved listing standards for commodity-based trusts, allowing it to trade on a major public exchange.

A Competitive and Expanding Market

Grayscale’s launch arrives amidst heightened competition in the crypto Exchange-Traded Product (ETP) market. Just one day prior to GSOL’s listing, competitor Bitwise introduced its own Solana ETF on the NYSE. In addition, Canary recently launched Litecoin and HBAR ETFs on Nasdaq, highlighting a broader industry trend toward spot-based, staking-enabled investment products.

With this new offering, Grayscale leverages its experience with Bitcoin and Ethereum ETPs to reinforce its leadership in the digital asset space. The conversion of GSOL into a listed ETF not only enhances its operational scale but also underscores the growing perception of crypto assets as integral, yield-generating components in modern investment portfolios.