Grayscale seeks to convert its Solana trust into a spot ETF and list it on the NYSE

ChainCatcher news, Grayscale is seeking to convert its Grayscale Solana Trust (GSOL) into an exchange-traded fund (ETF). The trust was created by Grayscale in 2021 and has total assets under management of $134 million. Grayscale has become the fifth asset management company to seek to launch a SOL ETF.

The New York Stock Exchange Arca (the exchange where the ETF will be listed) submitted a 19b-4 application on Tuesday night. The U.S. Securities and Exchange Commission (SEC) requires exchanges to submit such applications to notify the SEC of proposed rule changes by self-regulatory organizations (SROs).