Solana ETFs from Grayscale and VanEck are one step closer to launch after both firms submitted amended S-1 filings to the U.S. SEC. The updates detail fund structures, sponsor fees, and custodial arrangements—signs that approval could be imminent. Grayscale’s Solana ETF, set to trade on NYSE Arca under the ticker GSOL, will charge a 2.5% sponsor fee and use Coinbase Custody as its sole custodian.
The ETF will not support in-kind redemptions at launch. Instead, it will use a cash model, relying on third-party liquidity providers to convert USD into SOL. The fund aims to passively hold Solana and will track the CoinDesk SLX Index, which aggregates SOL prices from major exchanges.
No leverage, lending, or derivatives will be used. However, Grayscale may introduce staking in the future if allowed under a specific “Staking Condition” outlined in its filing. VanEck’s amended filing mirrors similar structural changes.
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