{"id":90426,"date":"2025-10-29T17:07:58","date_gmt":"2025-10-29T15:07:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90426"},"modified":"2025-10-29T16:12:41","modified_gmt":"2025-10-29T14:12:41","slug":"grayscale-launches-spot-solana-etf-with-staking","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/grayscale-launches-spot-solana-etf-with-staking\/","title":{"rendered":"Grayscale launches spot Solana ETF with staking"},"content":{"rendered":"<p>Grayscale Investments has launched a spot exchange-traded fund (<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>) on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a> with <a href=\"https:\/\/forklog.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">staking<\/a>. Trading under the ticker GSOL begins on 30 October on NYSE Arca.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Introducing Grayscale Solana Trust ETF (Ticker: <a href=\"https:\/\/twitter.com\/search?q=%24GSOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GSOL<\/a>), offering investors exposure to <a href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\">@Solana<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>, one of the fastest-growing digital assets. <a href=\"https:\/\/twitter.com\/search?q=%24GSOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GSOL<\/a> features: <br \/>\u26a1 Convenient Solana exposure paired with staking benefits. <br \/>\ud83d\udd11 Exposure to a high-speed, low-cost blockchain.\u2026 <a href=\"https:\/\/t.co\/TgVNlhqBPO\">pic.twitter.com\/TgVNlhqBPO<\/a><\/p>\n<p>\u2014 Grayscale (@Grayscale) <a href=\"https:\/\/twitter.com\/Grayscale\/status\/1983489811366478281?ref_src=twsrc%5Etfw\">October 29, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm initially launched GSOL in 2021 as a closed-end trust.\u00a0<\/p>\n<p>Grayscale representatives said the company has become one of the largest managers of the \u201cpeople\u2019s cryptocurrency\u201d <span data-descr=\"cryptocurrency exchange-traded products\" class=\"old_tooltip\">ETP<\/span> in the US by assets.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe launch of GSOL confirms our conviction that a modern portfolio should include digital assets for growth and diversification,\u201d said Grayscale senior vice president Inku Kan.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Market competition<\/h2>\n<p>On 28 October, Bitwise <a href=\"https:\/\/forklog.com\/en\/news\/bitwise-launches-sol-etf-on-nyse\">launched<\/a> a spot Solana ETF (BSOL). The same day, Canary listed products on Litecoin (LTCC) and HBAR (HBR) on Nasdaq.<\/p>\n<p>The launches came against the backdrop of a US government shutdown. As a result, the Securities and Exchange Commission (SEC), which regulates ETFs, is operating in a limited capacity.<\/p>\n<p>Despite the shutdown, the SEC <a href=\"https:\/\/www.sec.gov\/newsroom\/whats-new\/updated-division-corporation-finance-actions-advance-potential-government-shutdown-october-09-2025\">issued<\/a> guidance for companies. It allows filing S-1 registration statements without a \u201cdelaying amendment\u201d, which gave the regulator time to review documents.\u00a0<\/p>\n<p>Without it, an ETF is automatically approved 20 days after the final filing, even without active review by the Commission. Firms need only meet the exchange\u2019s listing standards.<\/p>\n<h2 class=\"wp-block-heading\">Early results<\/h2>\n<p>At launch, net inflows into BSOL totaled $69.5m. It is the first US exchange-traded fund with 100% direct backing in the SOL cryptocurrency.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-81c2006c871ecfea-8139314190470654.webp\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2025-10-29 163710\" class=\"wp-image-268475\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/farside.co.uk\/sol\/#\">Farside<\/a>.<\/figcaption><\/figure>\n<p>Total assets under management reached $288.92m.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"214\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-72211269f4c8fe7a-8139331946295981-1024x214.png\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2025-10-29 165814\" class=\"wp-image-268476\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-72211269f4c8fe7a-8139331946295981-1024x214.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-72211269f4c8fe7a-8139331946295981-300x63.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-72211269f4c8fe7a-8139331946295981-768x160.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-72211269f4c8fe7a-8139331946295981-1536x321.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-72211269f4c8fe7a-8139331946295981.png 1797w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-sol-spot\">SoSoValue<\/a>.<\/figcaption><\/figure>\n<p>BSOL\u2019s first-day trading volume reached $57.9m. According to Bloomberg ETF analyst Eric Balchunas, this is the best result among all products launched this year.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Final tally of Day One trading.. <a href=\"https:\/\/twitter.com\/search?q=%24BSOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BSOL<\/a>: $56m<a href=\"https:\/\/twitter.com\/search?q=%24HBR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$HBR<\/a>: $8m<a href=\"https:\/\/twitter.com\/search?q=%24LTCC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$LTCC<\/a>: $1m <br \/>I can&#8217;t believe how close I came. ETF sixth sense for the win. Wish there was a <a href=\"https:\/\/twitter.com\/Polymarket?ref_src=twsrc%5Etfw\">@Polymarket<\/a> for this I&#8217;d be rich. <a href=\"https:\/\/t.co\/TODOk13WUt\">https:\/\/t.co\/TODOk13WUt<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1983264920935510195?ref_src=twsrc%5Etfw\">October 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to SoSoValue, <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-ltc-spot\">LTCC<\/a> and <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-hbar-spot\">HBR<\/a> saw zero net inflows despite trading volumes of $8.6m and $1.4m, respectively. Bloomberg analyst James Seyffart explained that this is common.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Okay too many questions about <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> ETFs and zero flows \u2014 a few quick thoughts: <\/p>\n<p>1. On any given day, the vast majority of ETFs will have a flow number of ZERO \u2014 this is very normal. There are ~3,500 ETFs in the US. Yesterday 2,903 of them had a flow of exactly zero<\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1780243642851995735?ref_src=twsrc%5Etfw\">April 16, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>New ETF shares are created or redeemed only when there is a significant imbalance between supply and demand, the expert said.<\/p>\n<p>Vetle Lunde, head of research at K33 Research, <a href=\"https:\/\/k33.com\/research\/articles\/no-blackrock-no-party\">noted<\/a> BlackRock\u2019s dominance in the bitcoin-ETF market. According to him, excluding inflows into IBIT, all other funds would have posted a net outflow of $1.3bn since the start of 2025.<\/p>\n<p>Lunde believes that the absence of BlackRock from the altcoin-ETF market could limit overall inflows. However, this opens opportunities for other issuers to compete for dominance in the Solana-ETF segment.<\/p>\n<h2 class=\"wp-block-heading\">CoinShares and Toncoin<\/h2>\n<p>The investment company CoinShares has launched the exchange-traded product CoinShares Physical Staked Toncoin (CTON). It will give investors exposure to the asset of The Open Network (TON) blockchain with the ability to earn staking rewards.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">More here: <a href=\"https:\/\/t.co\/YoVww77GeN\">https:\/\/t.co\/YoVww77GeN<\/a><\/p>\n<p>\u2014 CoinShares (@CoinSharesCo) <a href=\"https:\/\/twitter.com\/CoinSharesCo\/status\/1983133253566365712?ref_src=twsrc%5Etfw\">October 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Trading in US dollars will begin on Switzerland\u2019s SIX Swiss Exchange.<\/p>\n<p>CoinShares noted growing interest from European institutional investors in blockchain assets. In their view, TON\u2019s integration with the Telegram messenger gives the network a unique advantage. The project combines high performance\u2014over 104,000 transactions per second\u2014with access to Telegram\u2019s 900m active users.<\/p>\n<p>The head of CoinShares Jean-Marie Mognetti called TON \u201can interesting development of blockchain infrastructure\u201d.<\/p>\n<p>Key features of CTON:<\/p>\n<ul class=\"wp-block-list\">\n<li>zero management fee;<\/li>\n<li>2% staking yield;<\/li>\n<li>physical backing of the underlying asset at a 1:1 ratio.<\/li>\n<\/ul>\n<p>Toncoin is already part of the CoinShares Altcoins (DIME) exchange-traded fund in the US. The new product broadens access to the asset for European investors.<\/p>\n<p>In October, media reported that the Hong Kong Securities and Futures Commission <a href=\"https:\/\/forklog.com\/en\/news\/asia-approves-first-spot-etf-for-solana\">approved<\/a> the region\u2019s first spot ETF based on Solana.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grayscale Investments has launched a Solana-based ETF with staking. Trading under ticker GSOL starts on 30 October on NYSE Arca.<\/p>\n","protected":false},"author":1,"featured_media":90427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Grayscale launches Solana spot ETF with staking; GSOL trading starts Oct 30 on NYSE Arca.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[949,1191,569,943,1159,1422],"class_list":["post-90426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitwise","tag-coinshares","tag-etf","tag-grayscale-investments","tag-solana-sol","tag-toncoin"],"aioseo_notices":[],"amp_enabled":true,"views":"211","promo_type":"1","layout_type":"1","short_excerpt":"Grayscale launches Solana spot ETF with staking; GSOL trading starts Oct 30 on NYSE Arca.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90426"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90426\/revisions"}],"predecessor-version":[{"id":90428,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90426\/revisions\/90428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90427"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}