Grayscale Solana Trust ETF Debuts on NYSE Following Trust Conversion

According to Odaily, on October 29, Eastern Time, the Grayscale Solana Trust ETF (GSOL) transitioned from a trust to an ETF and was officially listed on the New York Stock Exchange. This marks it as the second Solana spot ETF listed in the United States, following Bitwise. Data from SoSoValue indicates that GSOL experienced a net inflow of $1.4 million on its debut day, with a trading volume of $4.86 million and a total net asset value of $103 million. Meanwhile, the Bitwise Solana Staking ETF (BSOL) saw a net inflow of $46.54 million on the same day, bringing its cumulative net inflow to $116 million. The trading volume for BSOL reached $74.65 million, with a total net asset value of $330 million. As of the latest report, the total net asset value of Solana spot ETFs stands at $432 million, with a Solana net asset ratio of 0.40% relative to Solana's total market capitalization. The historical cumulative net inflow for Solana spot ETFs has reached $117 million. The Grayscale Solana Trust ETF currently supports only cash redemptions. Its management fee has been reduced from 2.50% during the trust period to 0.35%. The ETF allows Solana to generate additional income through staking, with 23% of the staking income allocated to Grayscale, the custodian, and staking providers, while the remaining 77% is added to the ETF's assets.