Grayscale is a cryptocurrency asset manager that has registered its Grayscale Solana On Friday, Trust (GSOL) was re-registered as an exchange traded fund at NYSE Arca.
Grayscale is continuing to push for inventors to have access to cryptocurrency on Wall Street. You can submit your article here The trust’s Solana trust was granted a “19b-4” in December.
They use the same approach for identifying Bitcoin and Ethereum ETFs. Gaining approval Asset managers are hoping to add more crypto products to their portfolios, allowing investors to access altcoins through a brokerage.
Analysts believe Solana to be one of the candidates most likely to receive a regulatory go-ahead. You can also say:The SEC has a new leadership that is more crypto-friendly, and Solana’s futures market, which may be regulated but still in its infancy, will soon become a reality.
If converted to an ETF the Grayscale Solana Trust would not be involved in that process. staking According to the Friday registration statement, funds are held as receipts.
In the filing, it was stated: “No actions will be taken in order to make any portion of Trust’s SOL subject to Solana Proof-of-Stake Validation or to earn additional SOL.”
Staking describes the way in which users can receive rewards when they lock up their funds on Solana and participate in the validation of transactions. In the end, this rewards investors by helping to secure the network.
Grayscale is one of many asset managers to have removed any staking terminology from the applications submitted before the SEC granted the approval. Grayscale was not alone in this. Fidelity The following are some examples of how to get started: Ark Invest/21 shares Clip similar sections.
At the time, ETF hopefuls Removed Staking addressed the SEC’s concerns at that time. Former SEC Chairman Gary Gensler thought that Proof-of-Stake networks were securities.
Grayscale has filed a filing one day after SEC You can also recognize this by Fidelity’s request for a Solana ETF is one of many crypto-related applications that are awaiting approval by the regulator.
According to crypto data providers, Solana recently changed hands at $114.50, a decrease of 0.4% over the previous day. CoinGecko. Its price dropped to as low as a The 13-month Low.
James Rubin is the editor
