Grayscale Investments kicked off trading of a new Solana-focused ETF on Wednesday, adding a staking feature that passes network rewards to investors.
According to Grayscale, the move makes the firm one of the largest Solana exchange-traded product managers in the US by assets under management.
Inkoo Kang, Grayscale’s Senior Vice President of ETFs, said the launch shows the firm’s belief that digital assets should sit alongside stocks and bonds in modern portfolios.
Those moves came amid strong interest from asset managers to offer regulated crypto funds that give investors straightforward access to tokens without direct custody.
These ETF launches happened while the US government was partially shut down and some SEC staff were furloughed.
Kristin Smith, president of the Solana Policy Institute, said staking-enabled funds offer more than simple price exposure; participants can help secure the network, support developer work, and earn rewards.
The Securities and Exchange Commission issued guidance permitting firms to file S-1 registration statements without a delaying amendment, which lets certain funds take effect automatically within 20 days of filing.
The SEC had also approved updated listing standards for commodity-based trust shares shortly before the staffing disruption, a step that helped speed up approvals for dozens of pending crypto ETF applications.
Solana has consistently cemented its status among the powerhouse tokens in terms of market valuation, taking the sixth spot, according to CoinMarketCap.
Based on reports, the new listings did not include full details on fee levels, which validators will be used for staking, or how staking rewards will be split after expenses.
Featured image from Gemini, chart from TradingView
