Grayscale, the main cryptocurrency asset supervisor, has filed to launch a Solana exchange-traded fund (ETF).
This comes after mutual fund big Constancy additionally joined the race in March. As reported by U.At present, the U.S. Securities and Trade Fee acknowledged Grayscale’s submitting in March.
The worth of Solana (SOL) is down roughly 0.4% over the previous 24 hours.
There are additionally a number of different pending ETF filings from such gamers as VanEck.
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Polymarket bettors see extraordinarily excessive odds of a Solana ETF being authorized in 2025.
Solana is much from being the one main altcoin that’s vying to get its personal altcoin ETF within the U.S. Such cryptocurrencies as XRP and Dogecoin (DOGE) are additionally extremely more likely to get their very own ETF merchandise this 12 months.
Earlier this week, Grayscale additionally filed to launch an ETF that holds a various basket of varied cryptocurrencies, together with SOL and XRP.
Grayscale is, in fact, extensively believed to have contributed to the approval of spot Bitcoin ETFs within the U.S. by profitable its lawsuit in opposition to the U.S. Securities and Trade Fee (SEC) again in August 2023. The groundbreaking authorized victory paved the best way for the preliminary launch of a slew of Bitcoin ETFs in early 2024.
In line with information offered by SoSoValue, Grayscale Bitcoin Belief ETF (GBTC) has practically $16 billion price of property. Its low-fee spinoff has $3.36 billion in property.