Grayscale Investments Company filed a filing with the U.S. Securities and Exchange Commission (SEC) to convert the GSOL trust into a spot Solana - ETF . As a spot custodian Solana - ETF The Coinbase Custody fund will perform.
The transfer agent issuing and redeeming shares of the fund, as well as its administrator, will be one of the offices of The Bank of New York Mellon.
As you know, the Grayscale fund Solana Trust (GSOL) launched back in 2021 and, according to the company's filing, it is the largest coin-based product with total assets under management of $134,2 million.
At present, the fund controls at least 0,1% of the total supply. Solana (SOL), the organization noted. An important nuance is that GSOL is a closed trust, so it is not traded on the public market. Recall that regulators are currently reviewing applications for the launch Solana - ETF from Canary, VanEck, 21Shares and Bitwise.
Meanwhile, the course Solana reacted rather reservedly, but the token price increased by 45% during November. This was probably due to the expectation of approval of spot exchange-traded funds based on Solana .
