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 at the moment the biggest Solana funding fund by belongings beneath administration (AUM). It manages $134.2 million value of SOL, roughly 0.1% of all Solana in circulation.
Grayscale says it’s seeking to listing the Solana Belief as an ETF so it could possibly intently monitor the worth of the underlying crypto asset.
“The Sponsor thus believes that permitting Shares of the Belief to listing and commerce on the Change as an ETP (i.e., changing the Belief to a spot SOL ETP) would offer different buyers with a protected and safe strategy 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 large 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 top of digital belongings analysis at VanEck, mentioned 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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