In a recent announcement, Grayscale outlined the details of its new Solana ETF, set to trade on NYSE Arca.
Grayscale ETF Details
The ETF will trade under the ticker GSOL and will include a 2.5% sponsor fee. Coinbase Custody will act as the sole custodian of the assets. The fund will operate under a cash-only model for share creation and redemption, with no in-kind transactions supported at launch.
Comparison with VanEck Fund
The competing fund from VanEck, named VSOL, aims to list on Cboe BZX with a lower 1.5% fee. Asset custody will be jointly managed by Gemini and Coinbase. Unlike Grayscale, VanEck's fund includes an active staking strategy with rewards reinvested.
Status and SEC Approval Expectations
Both funds are structured as grantor trusts, which exempts them from the Investment Company Act and the Commodity Exchange Act. With the fee structures and staking strategies now public, all eyes turn to the SEC for a final decision on approval.
Grayscale and VanEck are presenting competing ETFs for investment in Solana, reflecting the growing interest in crypto assets and the expectations for regulatory approvals.
