- Grayscale launches GSOL ETF with staking rewards integrated into NAV.
- GSOL debuts after Bitwise’s BSOL, signaling rising institutional Solana adoption.
- Solana price dips as trading volume and whale activity surge post-ETF launch.
Grayscale Investments has introduced its Solana Exchange-Traded Fund (ETF), marking its entry into staking-enabled crypto products. Trading under the ticker GSOL on NYSE Arca, the fund provides investors with direct exposure to Solana’s (SOL) price performance while incorporating staking rewards into its net asset value (NAV).
According to the firm’s announcement, the ETF serves as the first Grayscale product uplisted under the SEC’s updated listing framework for digital assets. The company stated that GSOL’s structure enables investors to gain on-chain yield exposure through a regulated investment vehicle, reflecting Solana’s growing role in institutional portfolios.
Unlike conventional ETFs, GSOL operates as a trust, which subjects it to additional investment risks, including potential capital loss. Grayscale noted that the product’s framework uses secure custody and institutional safeguards to align with regulatory standards while maintaining direct exposure to the Solana network.
Industry Reactions and Regulatory Context
Grayscale’s Senior Vice President for ETFs, Inkoo Kang, said the product builds on prior ETP launches for Bitcoin and Ethereum, expanding investor choice in the digital asset sector. “With GSOL, we’re broadening investor access to Solana’s ecosystem by integrating growth potential with staking-based returns and institutional protections,” Kang stated in the release.
Kristin Smith, President of the Solana Policy Institute, described the ETF’s launch as a step toward integrating blockchain technology with global financial systems. She said the product allows traditional investors to participate in Solana’s network security through regulated channels.
The launch closely follows Bitwise Asset Management’s debut of its Bitwise Solana Staking ETF (BSOL), which went live a day earlier. Bitwise’s product recorded one of the strongest openings for a crypto ETF since the introduction of Ethereum-based funds earlier this year.
Market and On-Chain Developments
Grayscale’s SEC filing this month set a 0.35% management fee, payable in SOL, to maintain cost efficiency while ensuring value alignment for stakeholders.
Despite the ETF momentum, Solana’s price slipped 0.9% to $198.73 on Wednesday amid broader market weakness ahead of the U.S. Federal Reserve’s rate decision. However, trading volume climbed 23%, indicating elevated activity levels.
In parallel, Western Union announced plans to issue the USD Payment Token (USDPT) on the Solana blockchain. At the same time, on-chain data from DeFi Tracer revealed a $74.3 million long position opened by a whale trader, signaling continued institutional interest in the network.
