Grayscale Launches the First Staking‑Enabled Solana ETF on NYSE Arca

Grayscale Investments has added a new product to its expanding suite of cryptocurrency‑focused exchange‑traded funds (ETFs). The firm’s Grayscale Solana Trust ETF (ticker: GSOL) began trading on the NYSE Arca on Tuesday, October 29, 2025. GSOL is the first Solana‑based ETF that offers staking rewards, a feature that has attracted both institutional and retail investors seeking yield alongside market exposure.

Product Features and Launch Details

  • Underlying Asset: The ETF tracks the price of Solana (SOL), the blockchain platform that powers a growing ecosystem of decentralized applications and financial services.
  • Staking Component: Unlike traditional spot ETFs, GSOL incorporates a staking mechanism that distributes rewards to investors based on Solana’s proof‑of‑stake consensus protocol. This structure allows holders to earn passive income while maintaining market exposure.
  • Listing Standard: GSOL is listed under the SEC’s newly adopted “Exchange‑Traded Product” (ETP) framework, which streamlines approval for crypto‑based securities.
  • Seed Capital: The initial capital raised during the product launch was reported to be approximately $103 million, reflecting strong demand from early adopters and seasoned market participants.

Market Reception

GSOL’s debut coincided with a broader uptick in Solana‑focused products. On the same day, Bitwise introduced the Bitwise Solana Staking ETF (BSOL), and other firms such as Rex‑Osprey also entered the U.S. Solana ETF market. The simultaneous entry of multiple products has intensified competition and expanded liquidity for Solana‑related securities.

Early trading data for GSOL indicates a healthy opening day. Although the ETF’s share price fluctuated around its initial offering level, the overall volume reflected robust participation from both retail and institutional traders. Analysts note that the inclusion of staking rewards is a differentiator that may attract investors who value yield in addition to price appreciation.

Investor Implications

  • Accessibility: By listing on NYSE Arca, GSOL becomes accessible to investors who prefer regulated exchanges over direct cryptocurrency wallets, reducing the friction associated with on‑chain transactions.
  • Yield Generation: The staking feature provides an additional income stream, which could offset potential price volatility inherent in the cryptocurrency market.
  • Diversification: GSOL adds a new layer to investors’ portfolios, offering exposure to Solana’s technological advancements and its expanding dApp ecosystem without requiring direct token ownership.

Contextualizing the Move

Grayscale’s decision to launch a staking‑enabled ETF aligns with broader industry trends toward regulated, yield‑producing crypto products. As the SEC continues to refine its framework for digital asset investments, firms are increasingly leveraging staking and other on‑chain mechanisms to enhance product attractiveness. The launch of GSOL signals Grayscale’s commitment to staying at the forefront of this evolution and meeting growing demand from investors seeking both exposure and performance in emerging blockchain platforms.

The introduction of GSOL represents a significant milestone for both Grayscale and the Solana ecosystem. By merging regulated trading with staking rewards, the ETF offers a compelling new avenue for investors to participate in the growth of one of the fastest‑growing blockchain networks.