Grayscale Revises Solana ETF Plans, Drops Staking Option
Grayscale, a major player in the investment world, is making some changes to its proposed Solana-based exchange-traded fund (ETF).
The company has submitted an updated filing to the U.S. Securities and Exchange Commission (SEC), indicating plans to rename the Grayscale Solana Trust to Grayscale Solana Trust ETF. The move comes as part of a revised registration statement.
The latest filing also highlights that Grayscale’s previous application to list the ETF on NYSE Arca, submitted on December 3, 2024, is still awaiting SEC approval.
The application, filed under Rule 19b-4 of the Securities Exchange Act of 1934, has neither been granted nor denied so far, but it has been acknowledged by the SEC. Grayscale makes it clear that the ETF will not proceed until the SEC gives its approval.
Another significant change involves the decision to exclude staking from the proposed ETF. This means that investors won’t be earning staking rewards from SOL tokens through the fund.
Grayscale states that neither the trust nor any affiliated parties will participate in Solana’s proof-of-stake validation or use SOL for generating income. There is also no guarantee that staking will be integrated into the ETF in the future.
These updates mark Grayscale’s ongoing efforts to adapt its proposed Solana investment vehicle, balancing regulatory requirements and investor expectations.
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