The fund, which was created by Grayscale in 2021, has $117 million in assets under management.
The trust, which was created by Grayscale in 2021, has $134 million in assets under management.Grayscale has become the latest entrant into the Solana ETF sweepstakes as it looks to convert its existing Solana Trust into an exchange-traded fund.submitted by NYSE Arca, the exchange that would list the fund, was made on Tuesday evening. The U.S.
Grayscale is now the fifth asset manager that has filed to launch a Solana ETF, following Bitwise, VanEck, 21Shares and newly formed Canary Capital, all of which announced plans earlier this year. Grayscale already successfully converted its flagship Ethereum and Bitcoin trusts into ETFs earlier this year. The company launched the closed-end Solana Trustas its 16th investment product and it now holds $134 million in assets under management per this evening's filing.
Alongside much of the rest of the crypto market, Solana has seen a sharp rally this year — particularly so since the early November election of Donald Trump which promised a friendlier regulatory environment for the industry.Helene is a New York-based news reporter at CoinDesk, covering news about Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show on Spotify and Youtube.
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