Grayscale Solana Trust ETF (GSOL) Launch Was Years of Research and Dialogue With Investors 

Grayscale Solana Trust ETF:- At Grayscale, our job is to help investors gain exposure to the emerging crypto ecosystem  – and sometimes, that means building bridges before the market even knows it needs them. 

When we first launched our Solana product in 2021, the crypto conversation mainly revolved around NFTs – trading at a frenzied pace at often exorbitant transaction costs, largely on Ethereum. The idea that transaction finality could be practically instant and user experience could be seamless was – at that point – nonexistent. Few were asking the deeper question: what does real on-chain activity look like at scale? 

Four years later, the answer is clear. Solana has emerged as the blockchain people actually  use – I’m one of them, and I’m far from alone. Solana powers everything from decentralized finance (DeFi) protocols and payment rails to consumer applications,  infrastructure projects, and a growing developer ecosystem that blends technical  performance with creative energy. 

From a user experience and onboarding perspective, it’s top tier. And it works. Transactions are confirmed in milliseconds, fees cost fractions of a cent, and the network consistently handles tens of millions of transactions a day¹. 

That combination – speed,  scale, and usability – explains why investor demand for institutional exposure to its underlying token, SOL, has grown so rapidly. Solana sits alongside Ethereum and other established networks as part of a broader landscape of innovation – one that reflects how blockchain ecosystems can coexist and complement one another in building the digital  economy. 

¹ Solana docs, Artemis. Data as of 11/18/2025.

Behind Launching GSOL

Grayscale’s decision to uplist Grayscale® Solana Trust ETF (GSOL) as an exchange-traded product last month was the culmination of years of research and dialogue with investors. 

Grayscale Solana Trust ETF (“GSOL” or the “Fund”), an exchange traded product, is not  registered under the Investment Company Act of 1940, as amended (“40 Act”), and  therefore is not subject to the same regulations and protections as 40 Act registered ETFs  and mutual funds. GSOL is subject to significant risk and heightened volatility, and is not  suitable for an investor who cannot afford the loss of the entire investment. An investment  in GSOL is not a direct investment in Solana. 

We heard the same message across every segment: investors want transparent and  operationally simple exposure to the networks driving the next phase of blockchain  adoption. 

Bringing GSOL to market required the same regulatory discipline that has defined our work  from the start – we were first to bring crypto exposure to investors in familiar wrappers; we  challenged the incumbent regulatory structures to bring ETPs to markets.

For years, we have been navigating complex approvals, working closely with policymakers,  and proving that digital asset funds can meet the standards investors expect from  traditional markets. That foundation allowed us to introduce a Solana ETP with the confidence that its structure could stand alongside any traditional investment vehicle. 

At the same time, Solana’s own maturity made that evolution possible. Its depth of  developer activity and consistent network uptime give analysts real metrics to value.

Our research shows how the chain has evolved into a dense hub for economic activity across  stablecoins, decentralized exchanges, and payments. Those insights reinforced our  conviction to launch GSOL as an ETP at this moment.

Also Read: BNB Chain Head on Future Growth 

Including Staking And Cutting Fees

A defining feature of GSOL is its integration of staking – the process that helps secure the  Solana network while rewarding those who participate in it.

The Fund stakes 100% of its  SOL through a diversified set of institutional-grade validators, designed to strengthen network resilience and deliver consistent performance for investors. Staking rewards above 7%^2* are nothing to scoff at, either. 

This structure reflects a simple philosophy: participation creates alignment. By staking  across multiple partners, we reduce concentration risk and ensure that the benefits of  network activity flow back to shareholders.

That’s already visible in GSOL’s results, which  show top staking performance across U.S.-listed Solana ETPs³ – evidence that Solana’s  underlying economics are working as intended. 

To help accelerate that early momentum, we also introduced a temporary fee reduction – **waiving the sponsor fee and lowering staking fees for a limited period**. The goal is to make participation more compelling as the product scales. The response so far has reflected that  momentum, particularly among professional investors who view staking rewards within  structures as a durable source of diversification and return potential. 

Also Read: Behind Crypto Sports Partnerships

² The total annual rate of staking rewards currently available on the Fund’s validators, as of November 7, 2025. The rate represents the average total annualized staking rewards to the Fund on staked assets since October 10, 2025.

 ^³ As of November 17, 2025.

Together, these decisions point toward the same goal: making digital-asset investing easier,  more participatory, more transparent, and ultimately more aligned with the networks that  power it. 

From Promise to Proof  

Solana continues to evolve, with upcoming upgrades like Alpenglow set to make the network even faster and more resilient. The ecosystem has moved beyond early use cases  to become a foundation for real applications demonstrating what on-chain utility looks like  in practice. 

GSOL mirrors that momentum. It bridges capital markets and decentralized networks,  giving investors a way to capture both growth and participation. 

The story of Solana is a reminder that crypto’s next chapter won’t be written in abstractions  – it will be lived through products people use, payments that move in seconds, and  markets that operate at internet speed. From promise to proof – the first glimpse of what a true digital economy can become. 

Also Read: Consensys and Eigen Launch Decentralized Solution for Web3

Important Disclosures: *Gross expense ratio at 0% for 3 months or the first $1.0 billion of  assets. After the fund reaches $1.0 billion in assets or after a 3-month waiver period ending  February 5, 2026, the fee will be 0.35%.

** ³ Largest crypto-focused asset manager based on AUM as of 10/31/2025. For other  companies in this category, AUM is considered as of most recent public disclosure.

Click here to read the prospectus before investing in Grayscale Solana Trust ETF  (“GSOL” or the “Fund”). This material must be preceded or accompanied by a  prospectus. Foreside Fund Services, LLC is the Marketing Agent and Grayscale  Investments Sponsors, LLC is the sponsor of GSOL. 

As a non-diversified and single industry fund, the value of the shares may fluctuate more  than shares invested in a broader range of industries. There is no guarantee that a market  for the shares will be available which will adversely impact the liquidity of the Fund. The  value of the Fund relates directly to the value of the underlying digital asset, the value of  which may be highly volatile and subject to fluctuations due to a number of factors. 

Staking Risk. When the Fund stakes Solana, Solana is subject to the risks attendant to  staking generally. Staking requires that the Fund lock up Solana for the period of time  required by the staking protocol, meaning that the Fund cannot sell or transfer the staked 

Solana, thereby making it illiquid for the period it is being staked. In addition, during the  lock-up period, the Fund is subject to the market price volatility of Solana, and it may miss  opportunities to sell the staked SOL during opportune times. During the unstaking period,  the Fund may miss out on earning opportunities because, in some cases, the staked SOL  may not earn rewards during the unstaking period or may only earn rewards during part of  the unstaking period. Staked SOL is also subject to security breaches, network downtime  or attacks, smart contract vulnerabilities, and validator or custodian failure or compromise,  which can result in a complete loss of the staked Solana or a loss of any rewards. 

NFTs, or non-fungible tokens, are digital assets stored on a blockchain that represent  ownership over a distinct, unique item. Staking is the process of locking up cryptocurrency  as collateral to support network security in return for earning tokens. 

Extreme volatility of trading prices that many digital assets have experienced in recent  periods and may continue to experience, could have a material adverse effect on the value  of the Fund and the shares could lose all or substantially all of their value. Digital assets  represent a new and rapidly evolving industry. The value of the Fund depends on the  acceptance of the digital assets, the capabilities and development of blockchain  technologies and the fundamental investment characteristics of the digital asset. Digital  asset networks are developed by a diverse set of contributors and the perception that  certain high-profile contributors will no longer contribute to the network could have an  adverse effect on the market price of the related digital asset. Digital assets may have  concentrated ownership and large sales or distributions by holders of such digital assets  could have an adverse effect on the market price of such digital assets. The value of the  Fund relates directly to the value of the underlying digital asset, the value of which may be  highly volatile and subject to fluctuations due to a number of factors.

Share