Main crypto asset supervisor Grayscale simply submitted a 19b-4 submitting to the U.S. Securities and Alternate Fee (SEC) to transform its Solana Belief right into a spot exchange-traded fund.
The Digital Foreign money Group (DCG) subsidiary’s Solana Belief is at present the biggest Solana funding fund by property underneath administration (AUM). It manages $134.2 million value of SOL, roughly 0.1% of all Solana in circulation.
Grayscale says it’s in search of to listing the Solana Belief as an ETF so it will possibly intently observe the worth of the underlying crypto asset.
“The Sponsor thus believes that permitting Shares of the Belief to listing and commerce on the Alternate as an ETP (i.e., changing the Belief to a spot SOL ETP) would supply different buyers with a secure and safe approach to put money into SOL on a regulated nationwide securities trade.”
The event comes as different asset managers additionally file purposes to supply Solana ETFs to their clients. Funding large VanEck submitted an S-1 registration assertion to the SEC in June, making it the primary firm within the US to use for a SOL ETF.
Matthew Sigel, the top of digital property analysis at VanEck, stated on the time that the submitting was a wager that Donald Trump would win the presidential election.
Different corporations in search of approval to launch a Solana ETF embrace 21Shares, Canary Capital and Bitwise.
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