Solana ETFs edge closer to approval as Grayscale and VanEck reveal fund fees
The post Solana ETFs edge closer to approval as Grayscale and VanEck reveal fund fees appeared on BitcoinEthereumNews.com.
US Solana ETFs are one step closer to becoming a reality. On Wednesday, asset managers Grayscale and VanEck filed amended S-1 documents with the Securities and Exchange Commission (SEC). These filings have such critical data as fund fees, custodians, staking models, and operational specifics. Market watchers said these updates represent a significant move closer to regulatory approval. If the ETFs are approved, they would be the first available to mainstream US investors to directly expose them to Solana (SOL), the fifth-largest cryptocurrency by market capitalization. Grayscale’s proposed fund, the Grayscale Solana Trust ETF, will trade under the ticker GSOL on NYSE Arca, one of the largest US exchanges for trading securities. According to the amended filing, the ETF will boast a 2.5% annual sponsor fee—a lofty fee compared with traditional ETFs but roughly in line with Grayscale’s other crypto products. The trust’s custodian will be Coinbase Custody, a qualified digital asset storage solutions provider. Interestingly, it won’t permit in-kind redemptions or creations at inception either. Instead, it is designed to follow a cash model, so authorized participants will create and redeem shares with US dollars. Liquidity providers can convert that cash to SOL to align it with the fund’s net asset value (NAV). Grayscale will value GSOL based on the CoinDesk SL50 Index, a market benchmark that measures the price of Solana across major cryptocurrency exchanges. This would provide transparency and an equitable price. Grayscale noted that the ETF will hold SOL passively and not use derivatives, lend, or trade to accumulate cryptocurrency. Staking is not included at launch, though Grayscale has left open the possibility of including it in the future, subject to its so-called “Staking Condition.” VanEck to Lower Fees and Opt for Staking on VSOL VanEck’s new proposal is a more aggressive pitch for innovation. The VanEck…
Filed under: News - @ August 1, 2025 1:28 am