Grayscale Joins Solana ETF Wave

Grayscale is the latest firm to launch a Solana ETF, debuting its staking-enabled GSOL fund on the NYSE Arca. The launch is part of a rapid series of new crypto ETPs this week from competitors like Bitwise.

This industry push is proceeding even as a prolonged government shutdown has left the ETF watchdog, the SEC, severely understaffed and unable to perform its full regulatory duties.

Grayscale, which first offered GSOL as a closed-end fund in 2021, now claims to be one of the largest Solana ETP managers in the country.