Main crypto asset supervisor Grayscale simply submitted a 19b-4 submitting to the U.S. Securities and Change Fee (SEC) to transform its Solana Belief right into a spot exchange-traded fund.
The Digital Forex Group (DCG) subsidiary’s Solana Belief is presently the most important Solana funding fund by belongings below administration (AUM). It manages $134.2 million price of SOL, roughly 0.1% of all Solana in circulation.
Grayscale says it’s seeking to checklist the Solana Belief as an ETF so it may possibly carefully monitor the worth of the underlying crypto asset.
“The Sponsor thus believes that permitting Shares of the Belief to checklist and commerce on the Change as an ETP (i.e., changing the Belief to a spot SOL ETP) would supply different traders with a protected and safe technique to put money into SOL on a regulated nationwide securities trade.”
The event comes as different asset managers additionally file purposes to supply Solana ETFs to their clients. Funding big VanEck submitted an S-1 registration statement to the SEC in June, making it the primary firm within the US to use for a SOL ETF.
Matthew Sigel, the pinnacle of digital belongings analysis at VanEck, stated on the time that the submitting was a wager that Donald Trump would win the presidential election.
Different companies searching for approval to launch a Solana ETF embrace 21Shares, Canary Capital and Bitwise.
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