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Grayscale Investments advances towards new horizons with the request to the SEC for a spot ETF on Solana. This strategic move strengthens the competition among the big names in the digital asset sector in the United States. Let’s see all the details in this article.  The race for spot ETFs: Grayscale challenges competitors on Solana’s ground Grayscale Investments, one of the global leaders in digital asset management, has officially submitted a request to the United States Securities and Exchange Commission (SEC) for the launch of a spot ETF on Solana.  This new product, named Grayscale Solana Trust (ticker: GSOL), represents a further step in the company’s expansion strategy towards innovative financial instruments linked to the world of cryptocurrencies. The ETF would be a conversion of the current Grayscale Solana Trust into a spot ETF, similar to previous transformations carried out by the company for its funds on Bitcoin and Ethereum. According to the documents filed with the SEC on December 3, the GSOL ETF would be listed on the New York Stock Exchange, further strengthening Grayscale’s presence in the U.S. market. According to the 19b-4 filing, the Grayscale Solana Trust is currently the largest investment fund in the world dedicated to Solana, with assets under management of approximately 134.2 million dollars. This makes it a key player in the sector, with a share of 0.1% of all SOL tokens in circulation held by the fund. The structure of the new ETF involves the participation of Coinbase Custody as the main custodian and BNY Mellon Asset Servicing as the administrator and transfer agent.  These collaborations emphasize Grayscale’s commitment to ensuring the utmost security and reliability for investors. The competition in the ETF market The initiative of Grayscale fits into a context of growing competition in the market of ETFs linked to…

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Filed under: News - @ December 4, 2024 12:22 am