Grayscale Files S-1 for Solana ETF, Drops Staking Option

• Grayscale files for Solana ETF, drops staking functionality

• Solana ETF moves to mainstream with growing institutional interest

Grayscale, a well-known cryptocurrency firm, has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to launch a Solana Exchange-Traded Fund (ETF). The regulatory filing enables Solana to advance toward financial markets that operate under traditional standards. Grayscale has modified the name of its Solana Trust to turn it into the Grayscale Solana Trust ETF. The newly launched ETF omits the staking functionality for SOL even though this capability was meant for the offering.

Solana Fast, Low-Cost Operations Drive Grayscale to File Solana ETF

Under Grayscale’s strategic vision, cryptocurrency accessibility leads the company to file for a Solana ETF. Like Bitcoin and Ethereum ETFs previously introduced to investors, these major coins, the Solana ETF, enable real and institutional investors to gain exposure to Solana assets through exchange-traded funds rather than holding the crypto itself.

The crypto world focuses on Solana because it offers fast, low-cost operations. The cryptocurrency is recognized as one of Ethereum’s main rivals because it delivers strong performance for decentralized applications (dApps) and non-fungible tokens (NFTs). As a result, many believe Solana has a promising future in the financial markets. Grayscale demonstrates its conviction about Solana’s investment potential through its decision to introduce the Solana ETF.

At the same time, the company continues to develop multiple crypto-related exchange-traded funds while pursuing its current projects. Recently, Grayscale submitted its XRP Trust to the New York Stock Exchange for spot ETF conversion. The increase in XRP ETF demand prompted the regulatory changes, which led to this new move. The approval of the XRP ETF would enable investors to access XRP through financial instruments without needing to possess actual tokens. Grayscale operates a total of $16.1 million worth of XRP assets at present.

Grayscale and Fidelity Solana ETFs Push Crypto Assets Toward Mainstream

Fidelity Investments, which operates as one of the world’s biggest asset management companies, plans to introduce its own Solana ETF to the market. Fidelity applied to the Chicago Board Options Exchange (CBOE) in March 2025 to offer its Solana ETF for trading. Fidelity established a Solana trust within Delaware while preparing to submit its Solana ETF filing to the Chicago Board Options Exchange (CBOE).

Furthermore, various businesses intend to grow their cryptocurrency exchange-traded facilities through feature enhancements. Some companies evaluate potential additions to staking functions as well as in-kind redemption functionalities and derivative investment plans for their cryptocurrency ETFs. The modifications would enhance the appeal of cryptocurrency ETFs while integrating them better into financial mainstream systems.

The cryptocurrency sector is observing the SEC’s choices regarding regulation due to the changing presidential administration of Donald Trump. The approval of Grayscale’s Solana ETF may trigger the U.S. market to accept additional altcoin exchange-traded funds. The accessibility of digital assets to various investor groups will improve through this development.

Ultimately, the Solana ETF filing from Grayscale represents a critical initiative that benefits both Solana crypto assets and the entire cryptocurrency field. The rising institutional investor interest and planned governance modifications create positive conditions for cryptocurrency exchange-traded funds to expand.