TLDR:
- Grayscale submitted an amended S-1/A for its Solana Trust (GSOL) to the SEC after market close.
- The updated filing lists a 0.35% management fee, higher than Bitwise’s 0.2% from the prior day.
- The amendment signals accelerating progress in the race to launch a Solana ETF.
- Market watchers see a tightening competition between Grayscale and Bitwise for Solana exposure.
The Solana ETF race is heating up. Grayscale has filed a fresh amendment for its Solana Trust (GSOL) with the U.S. Securities and Exchange Commission (SEC), setting its management fee at 0.35%.
The update came after market close, adding another move to the growing list of filings pushing Solana closer to an exchange-traded product launch.
Grayscale Adjusts Solana Trust Filing with 0.35% Fee
According to the SEC filing, the amendment reflects Grayscale’s latest structure for the Solana Trust.
It arrives just one day after Bitwise submitted its own Solana ETF application with a 0.2% fee. This new difference in pricing has caught the attention of traders comparing how issuers plan to attract investors.
MartyParty, a crypto analyst, flagged the amendment on social platform X, noting the update as part of Grayscale’s ongoing regulatory adjustments. The firm’s move keeps Solana in focus as institutional interest continues to expand across digital assets.
Solana ETF Filings Gather Steam Across Issuers
Grayscale’s amendment follows a wave of ETF submissions centered on Solana, marking the latest stage in the push to list spot crypto funds beyond Bitcoin and Ethereum.
The filing indicates that Grayscale is aligning its structure to comply with SEC feedback, fine-tuning its documentation ahead of any formal approval.
Investors watching the space see Solana ETFs as a natural next step after the surge in interest around spot Bitcoin and Ethereum funds. Filing amendments like this one suggest issuers are preparing to compete on cost and structure to attract institutional capital.
The SEC filing provides detailed updates on the trust’s share valuation and custodial arrangements. Grayscale’s adjusted fee positions GSOL slightly above its rival Bitwise but within a competitive range for market entry.