Grayscale Investments has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Solana Trust (GSOL) into a spot Solana ETF, to be listed on NYSE Arca. This move follows a previous 19b-4 filing with the NYSE in December 2024, indicating a continued effort to expand investor access to cryptocurrencies on Wall Street. The proposed ETF, if approved, will not include any Solana staking functionality, as stated in the registration statement. This decision aligns with Grayscale's approach to other spot ETFs, such as those for Bitcoin and Ethereum, which also excluded staking to meet regulatory requirements. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
