Grayscale Pushes Crypto ETFs Forward With First U.S. Solana-Staking ETP

Grayscale Investments took another step toward bringing crypto closer to Wall Street with the uplisting of its Grayscale Solana Trust ETF (NYSE:GSOL). This move signals that staking-based ETPs are beginning to find a regulated foothold in U.S. markets.

GSOL, initially launched in 2021 and trading over-the-counter since 2023, initiated staking in the early part of this year. Approximately 77% of the staking rewards are distributed to investors net, enabling returns to compound through the fund’s NAV.

GSOL is the first Grayscale staking product to list on an exchange under generic crypto listing standards recently approved by the SEC, offering investors exposure to Solana’s native token, SOL. The milestone underlines growing regulatory comfort with digital asset structures that blend blockchain-native yields with traditional ETF accessibility.

Unlike traditional ETFs, GSOL is not registered under the Investment Company Act of 1940, and thus it falls outside the protection given to mainstream funds. But for most investors, that’s beside the point: They want to get indirect exposure to Solana’s staking rewards-a privilege previously reserved for on-chain users.

A New Chapter For Solana Exposure

Solana has often been touted as one of the most active layer-1 blockchains due to its ultra-fast transaction times and very low fees (0.35%). With its growing institutional adoption, products such as GSOL have become a passport for more traditional investors looking for exposure to the performance of the network and staking yield.

Kristin Smith, President of the Solana Policy Institute, said that with staking products like GSOL, investors are not just gaining exposure-they’re helping secure the Solana network and fuel innovation.

To Grayscale, the uplisting is more than symbolic; it’s a strategic bridge between crypto-native returns and regulated investment vehicles, hinting at what could become a broader wave of staking-linked ETPs in the U.S. market.

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