Solana ETF Frenzy Grows as Grayscale Joins Bitwise in Wall Street Push

Grayscale Investments has launched its Solana Trust ETF (GSOL) on NYSE Arca, becoming the third Solana ETF in the U.S. alongside Bitwise’s BSOL and Rex-Osprey’s SSK. The move follows SEC-approved listing standards and expands Grayscale’s lineup beyond Bitcoin and Ethereum.

GSOL holds 525,387 SOL, with nearly 75% staked, and offers a 0.35% fee. Investors will receive 77% of staking rewards, potentially earning 5–6% annually. The ETF provides indirect exposure to Solana’s proof-of-stake network but is not registered under the Investment Company Act of 1940.

The launch intensifies competition after Bitwise’s ETF drew $69.5 million in first-day inflows, far outpacing Rex-Osprey’s $12 million debut. Grayscale’s Inkoo Kang said the product affirms that “digital assets belong in modern portfolios,” while analysts see it as a major step for institutional adoption.

Solana trades near $200, up 1% daily, though Polymarket gives just a 28% chance of new highs before 2026. Analysts, including Maria Carola of StealthEX, call the ETF rollout a defining moment for Solana, signaling its growing role in the Layer-1 blockchain race as Ethereum remains the institutional benchmark.

Image Credit: Pixabay