Grayscale Investments has officially launched its Grayscale Solana Trust (GSOL) as an exchange-traded product (ETP) on NYSE Arca, marking the firm’s first ETF to feature built-in staking exposure. The move expands Grayscale’s product lineup beyond Bitcoin and Ethereum while offering investors direct access to Solana’s staking yield.
A New Era for Grayscale: Staking Meets ETFs
According to a press release issued on October 29, Grayscale’s newly listed Solana ETF will distribute 77% of the net staking rewards from its underlying SOL holdings directly into the fund’s net asset value (NAV). This means investors gain exposure not only to Solana’s price movements but also to a portion of the rewards generated by staking on the network.
The ETF’s launch follows closely behind Bitwise’s Solana ETF, reflecting a surge of institutional interest in Solana-based investment products and signaling a broadening of crypto ETP options beyond the traditional Bitcoin and Ethereum markets.
“Bitcoin and Ethereum ETPs were just the start,” said Inkoo Kang, Senior Vice President of ETFs at Grayscale. “With GSOL, we’re expanding investor choice backed by the scale, education, and operational infrastructure that advisors and institutions expect.”
Strong Start with Over $102 Million in Assets
Grayscale’s Solana ETF began trading with 525,387 SOL tokens, representing more than $102 million in assets under management (AUM) at launch. The firm noted that nearly 75% of these tokens have already been staked to generate rewards for investors.
The launch underscores Grayscale’s growing footprint in the crypto investment landscape. Founded in 2013, the firm remains the world’s largest digital asset manager, overseeing around $35 billion in total AUM as of September 30.
ETF Launch Week Heats Up
GSOL’s debut comes during a particularly active week for crypto exchange-traded products. On the same week, Bitwise launched its own Solana ETF on the New York Stock Exchange, while Canary rolled out new ETFs for Litecoin (LTC) and Hedera (HBAR) on Nasdaq.
According to Bloomberg ETF analyst Eric Balchunas, trading activity was robust across the board:
- Bitwise Solana ETF (BSOL) led the field with roughly $56 million in first-day volume.
- Canary HBAR ETF followed with $8 million, while its Litecoin ETF recorded about $1 million in trades.
The strong performance underscores investor appetite for diversified crypto exposure — particularly in networks offering staking and yield opportunities.
Expanding Institutional Access to Solana
With GSOL, Grayscale adds a new dimension to its lineup of digital asset investment vehicles, giving both retail and institutional investors access to Solana’s high-performance blockchain and staking economy through a regulated exchange-traded format.
By passing 77% of net staking rewards back into the fund’s NAV, Grayscale is positioning the ETF to offer both price appreciation and passive yield potential, aligning traditional investment structures with decentralized finance mechanisms.
As the competition among crypto ETFs intensifies, Grayscale’s move highlights how staking integration could become a defining feature of next-generation digital asset funds blending DeFi yield generation with the accessibility of traditional finance.
