Digital asset supervisor Grayscale registered with america Securities and Trade Fee (SEC) to listing the Grayscale Solana (SOL) Belief exchange-traded fund (ETF) on the New York Inventory Trade (NYSE).
The ETF will commerce below the ticker image “GSOL” and can maintain spot SOL because the underlying asset, based on the April 4 S-1 submitting.
Grayscale introduced plans to transform its current Grayscale Solana Belief into an ETF in its 19b-4 software filed with the SEC in December 2024.
The submitting is amongst a number of crypto ETF functions in america following a regulatory shift in Washington DC, and Solana is broadly anticipated to be the following digital asset ETF accredited by the SEC.
Grayscale Solana Belief ETF S-1 registration kind. Supply: SEC
Associated: Grayscale information S-3 for Digital Giant Cap ETF
Solana value slumps regardless of Trump’s consideration
US President Donald Trump in March introduced the inclusion of SOL within the nation’s first crypto reserve, alongside Bitcoin (BTC), Ether (ETH), XRP (XRP), and Cardano’s native token ADA (ADA).
Digital property held within the reserve will probably be acquired by way of asset forfeiture and will not considerably contribute to demand for SOL or value appreciation.
“A US Crypto Reserve will elevate this vital business after years of corrupt assaults by the Biden Administration” and embody “made in America” cryptocurrencies, Trump wrote in a March 2 Fact Social put up.
Following the announcement, SOL’s value declined to multi-week lows and is down roughly 60% since its all-time excessive of $295 recorded in January 2025.
SOL’s unfavourable value efficiency displays a broader downturn within the crypto markets introduced on by fears of a protracted commerce struggle and the Trump administration’s tariff insurance policies.
SOL has preformed poorly amid commerce struggle fears and a broader downturn in risk-on markets. Supply: TradingView
Threat-on property are likely to undergo throughout commerce wars as traders flee risky asset courses for extra steady alternate options equivalent to money and authorities bonds.
The approval of a Solana ETF may mitigate this value decline by giving conventional monetary traders publicity to SOL and funneling capital from the inventory market into the altcoin.
Contemporary funding capital pouring into SOL might prop up costs throughout common market downturns, making the altcoin extra resilient to cost shocks than digital property missing conventional funding automobiles.
Journal: Solana ‘will probably be a trillion-dollar asset’: Mert Mumtaz, X Corridor of Flame