Grayscale debuts Solana ETF, joining Bitwise in SOL staking ETF race

Grayscale Investments has launched its staking-enabled Solana spot exchange-traded fund (ETF), trading under the GSOL ticker on NYSE Arca, making it the second Solana ETP manager in the US. The product includes staking functionality, allowing investors to earn rewards from Solana’s proof-of-stake network. Grayscale launched with $102.7 million in seed capital, less than Bitwise's $222.9 million when it debuted its staking Solana ETF the previous day. Together, the two ETFs represent the entire US Solana ETF market, having introduced $325.6 million in seed capital. Both ETFs feature staking, which allows investors to help secure the network and earn rewards; Grayscale redistributes 77% of staking rewards to investors, while Bitwise distributes 72%. Analysts anticipate that the approval of these ETFs could attract between $3 billion and $6 billion in inflows to Solana within the first year.

(Source：Cointelegraph)