Two proposed Solana ETFs are nearing potential approval, as Grayscale and VanEck have submitted amended S-1 filings disclosing fund fees, custodians, and operational models—an indication that regulatory green lights may be imminent.
Grayscale’s planned ETF, set to trade under the ticker GSOL on NYSE Arca, will operate with a 2.5% sponsor fee and use Coinbase Custody as its sole custodian. The trust will rely on a cash-only model for share creation and redemption, with no in-kind transactions supported at launch.
The fund will passively hold SOL, tracking the CoinDesk SLX Index, and may introduce staking in the future if regulatory conditions allow. Derivatives and leverage are off the table.
VanEck’s competing fund, VSOL, aims to list on Cboe BZX with a lower 1.5% fee and will be jointly custodied by Gemini and Coinbase. Unlike Grayscale, VanEck’s filing includes an active staking strategy, with rewards reinvested into the fund.
The firm also hinted at the future inclusion of liquid staking tokens, pending regulatory approval. Validator selection will follow strict criteria tied to performance and security.
Both funds are structured as grantor trusts, meaning they fall outside the scope of the Investment Company Act and the Commodity Exchange Act. With fee structures and staking strategies now public, all eyes turn to the SEC for a final decision on approval.
Source
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/solana-etf-approval-may-be-closer-than-expected/