SEC solicits comments on Grayscale Solana Trust ETF proposal

Published 07/02/2025, 10:46
SEC solicits comments on Grayscale Solana Trust ETF proposal

The U.S. Securities and Exchange Commission (SEC) invited public input on the potential conversion of the Grayscale Solana Trust into an exchange-traded product (ETP).

The SEC’s notice recognized a filing from NYSE Arca, which seeks to list and trade shares of the Grayscale Solana Trust. This follows the submission of a 19b-4 filing by NYSE Arca last month, a crucial step in the process of proposing a spot cryptocurrency ETF.

The SEC has requested public comments on the proposal to be submitted within 21 days from its publication in the Federal Register. After the comment period, the SEC will decide whether to approve the proposal, disapprove it, or initiate proceedings to further evaluate the proposed rule change.

The acknowledgment of the Grayscale Solana 19b-4 filing by the SEC marks a significant development, as the SEC had previously declined to acknowledge similar filings for Solana. Bloomberg ETF analysts highlighted the importance of this move, indicating that it represents a new phase, particularly because Solana had been referred to as a ’security’ in the past.

Additionally, the SEC has also called for comments on Grayscale’s Litecoin trust on the same day. The recent developments come in the wake of President Donald Trump’s administration, which is considered pro-crypto, and some industry experts anticipate that a spot Solana ETF might receive approval by the end of this year.

In a related move last month, acting SEC Chair Mark Uyeda initiated a crypto task force, spearheaded by Commissioner Hester Peirce. The task force’s recent announcement indicated its intention to discern which crypto assets should be considered securities, potentially impacting how firms register and the guidance provided by the SEC regarding exchange-traded products.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.