Grayscale Investments has launched the Grayscale Solana Trust (GSOL), creating the largest publicly traded investment vehicle for spot Solana in the United States. The new product allows both retail and institutional investors to gain exposure to the price movements of Solana (SOL) through traditional brokerage accounts without needing to directly purchase or custody the digital asset.

Expanding Access to a Growing Ecosystem

The introduction of GSOL addresses the increasing demand from investors seeking to diversify their digital asset portfolios beyond Bitcoin and Ethereum. As Solana’s ecosystem expands, its market capitalization reached approximately $82.7 billion in mid-2025, solidifying its position as a key platform for Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs). Grayscale aims to capture capital from wealth managers, funds, and individuals who previously lacked a regulated pathway to invest in SOL.

Early market activity for the trust has been strong, with trading volumes and inflows suggesting investor confidence in Solana’s long-term potential. Shares of the trust are designed to track the underlying value of the SOL it holds, less any expenses and liabilities.

Staking Rewards and Future Plans

A key feature of the Grayscale Solana Trust is the integration of staking. This allows investors to benefit from the Solana network’s Proof-of-Stake consensus mechanism by earning rewards, which are factored into the trust’s valuation. This structure provides an additional source of yield on top of potential price appreciation. Grayscale has also established policies to manage liquidity between staked and unstaked holdings to facilitate redemptions.

Currently quoted on the OTCQX market, GSOL is pursuing an uplisting to the NYSE Arca, which would significantly enhance its liquidity and accessibility to a broader range of investors. The trust also plans to operate a redemption program where Authorized Participants can create and redeem shares, a mechanism intended to keep the share price closely aligned with the fund’s net asset value.