Grayscale’s Fee Waiver for the Solana Trust and Its Implications for Institutional Capital
Grayscale Investments announced that it will waive the sponsor fee and reduce the costs associated with staking for its Grayscale Solana Trust (GSOL). The waiver will apply for a maximum of three months or until the fund’s assets under management reach one billion dollars, whichever occurs first. The announcement was made on 5 November 2025 and was reported by several outlets, including Cryptopolitan, CryptoPanic, Coinpaper, Beincrypto, and Zycrypto.
Key Details of the Fee Waiver
| Item | Information |
|---|---|
| Product | Grayscale Solana Trust (GSOL) |
| Fee | Sponsor fee waived |
| Staking cost | Reduced |
| Duration | Up to three months or until AUM hits $1 billion |
| Target | Institutional capital |
| Staking yield offered | 7.23 % per annum (95 % of staking revenues) |
The reduction in fees and the high staking yield are intended to make Solana an attractive option for institutional investors. The move is described as a “bold bet” that does not involve the major cryptocurrencies Bitcoin or Ethereum.
Market Context
The fee waiver coincides with the launch of the first Solana exchange‑traded funds (ETFs) in the United States. Bybit analysts have suggested that this development could trigger a multi‑quarter rally driven by institutional demand. Solana’s price has been under pressure, but some analysts predict that the cryptocurrency could enter major bullish territory by the end of the year.
Related Developments in the XRP ETF Space
While Grayscale focuses on Solana, several other firms are advancing the XRP ETF agenda:
- Franklin Templeton – Its XRP ETF (ticker XRPZ) has appeared on the Depository Trust & Clearing Corporation (DTCC) website, a preparatory step that does not yet indicate approval.
- Canary Capital, Bitwise, and Franklin Templeton – These entities are accelerating the filing of updated Form S‑1 documents for their XRP ETFs, aiming for mid‑month approval.
- Market sentiment – The push for an XRP spot ETF is being framed as the next major development in the crypto landscape, especially with the approval timeline approaching.
Asset Performance Snapshot (as of 6 November 2025)
| Metric | Value |
|---|---|
| Close price | 0.00000875438 USD |
| 52‑week high | 0.0000168434 USD |
| 52‑week low | 0.000000107488 USD |
The close price of GSOL’s underlying asset reflects the broader volatility in the Solana ecosystem, but the fee waiver and staking incentives are designed to offset some of that volatility for long‑term holders.
Summary
Grayscale’s decision to waive the sponsor fee and lower staking costs for GSOL is a targeted strategy to attract institutional capital to Solana. The initiative aligns with the recent entry of Solana‑based ETFs into the U.S. market and follows a broader industry push toward institutional acceptance of alternative cryptocurrencies. Concurrently, several firms, including Grayscale and Franklin Templeton, are actively pursuing an XRP spot ETF, indicating a continued focus on expanding institutional access to diverse digital assets.
