{"id":20652,"date":"2025-04-04T16:46:34","date_gmt":"2025-04-04T16:46:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20652"},"modified":"2025-04-04T16:46:34","modified_gmt":"2025-04-04T16:46:34","slug":"grayscale-files-s-1-to-list-solana-etf-on-nyse","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20652","title":{"rendered":"Grayscale files S-1 to list Solana ETF on NYSE"},"content":{"rendered":"
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\"Grayscale<\/p>\n

Digital asset manager Grayscale registered with the United States Securities and Exchange Commission (SEC) to list the Grayscale Solana (SOL<\/a>) Trust exchange-traded fund (ETF) on the New York Stock Exchange (NYSE).<\/p>\n

The ETF will trade under the ticker symbol “GSOL” and will hold spot SOL as the underlying asset, according to the April 4 S-1 filing.<\/p>\n

Grayscale announced plans to convert its existing Grayscale Solana Trust<\/a> into an ETF in its 19b-4 application<\/a> filed with the SEC in December 2024.<\/p>\n

The filing is among several crypto ETF applications in the United States following a regulatory shift in Washington DC, and Solana is widely expected<\/a> to be the next digital asset ETF approved by the SEC.<\/p>\n

\"SEC,
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Grayscale Solana Trust ETF S-1 registration form. Source: <\/em>SEC<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Related: <\/strong><\/em>Grayscale files S-3 for Digital Large Cap ETF<\/strong><\/em><\/a><\/p>\n

Solana price slumps despite Trump\u2019s attention<\/h2>\n

US President Donald Trump in March announced the inclusion of SOL<\/a> in the country\u2019s first crypto reserve, alongside Bitcoin (BTC<\/a>), Ether (ETH<\/a>), XRP (XRP<\/a>), and Cardano’s native token ADA (ADA<\/a>). <\/p>\n

Digital assets held in the reserve will be acquired through asset forfeiture and may not significantly contribute to demand for SOL or price appreciation.<\/p>\n

“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration” and include “made in America” cryptocurrencies, Trump wrote in a March 2 Truth Social post<\/a>.<\/p>\n

Following the announcement, SOL’s price declined<\/a> to multi-week lows and is down approximately 60% since its all-time high of $295 recorded in January 2025.<\/p>\n

SOL’s negative price performance<\/a> reflects a broader downturn in the crypto markets brought on by fears of a prolonged trade war<\/a> and the Trump administration’s tariff policies.<\/p>\n

\"SEC,
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SOL has preformed poorly amid trade war fears and a broader downturn in risk-on markets. Source: <\/em>TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Risk-on assets tend to suffer during trade wars as investors flee volatile asset classes<\/a> for more stable alternatives such as cash and government bonds.<\/p>\n

The approval of a Solana ETF could mitigate this price decline by giving traditional financial investors exposure to SOL and funneling capital from the stock market into the altcoin.<\/p>\n

Fresh investment capital pouring into SOL may prop up prices during general market downturns, making the altcoin more resilient to price shocks than digital assets lacking traditional investment vehicles.<\/p>\n

Magazine: <\/strong><\/em>Solana \u2018will be a trillion-dollar asset\u2019: Mert Mumtaz, X Hall of Flame<\/strong><\/em><\/a><\/p>\n