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.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
