The approval of Solana-based ETFs in the U.S. is closer thanks to filings by Grayscale and VanEck. These changes may significantly impact Solana's investment market.
Key Updates in Amended Filings
On July 30, 2025, Grayscale and VanEck submitted amended S-1 filings with the SEC, signaling progress toward regulatory approval. The filings include information about fund fees, staking mechanisms, custodianship, and operational frameworks.
Grayscale Solana Trust ETF: GSOL
Grayscale's proposed ETF will trade under the ticker GSOL on NYSE Arca with a 2.5% annual fee. Coinbase Custody will be responsible for the secure storage of digital assets. The ETF will operate on a cash model, meaning all share creations and redemptions will occur in U.S. dollars, converted to SOL. Staking is not planned initially.
VanEck Solana Trust ETF: VSOL with Lower Fees and Staking
VanEck is taking a more aggressive approach with its ETF, trading under the ticker VSOL on Cboe BZX. The annual fee will be 1.5%, with staking introduced from launch. Custody of SOL tokens will be managed jointly by Gemini Trust and Coinbase Custody.
The proposed Solana ETFs could be an important step for integrating crypto investments into mainstream financial markets. The market is expected to closely monitor the approval process.