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Grayscale Solana Trust ETF (NYSEARCA:GSOL) announced several changes this week, according to a statement based on a Securities and Exchange Commission filing.
On Monday, Grayscale Investments Sponsors, LLC filed a Certificate of Amendment with the Secretary of State of Delaware to change the name of the trust from "Grayscale Solana Trust (SOL)" to "Grayscale Solana Trust ETF." The name change became effective at 4:01 p.m. New York City time on Tuesday.
Also on Monday, the sponsor entered into an amendment to the trust agreement that both formalized the name change and reduced the sponsor’s fee to 0.35%. The lower fee will take effect when shares of the trust first list and trade on NYSE Arca, which is currently expected to occur Wednesday.
In a separate development, the sponsor completed an internal corporate reorganization on October 22. As part of this process, Grayscale Investments, Inc. became the sole managing member of Grayscale Operating, LLC, which is the sole member of the trust’s sponsor. The board of directors of Grayscale Investments now manages the sponsor’s affairs and consists of Barry Silbert, Mark Shifke, Simon Koster, Peter Mintzberg, and Edward McGee. The board members are the same as those who previously served on the board of GSO Intermediate Holdings Corporation before the reorganization. Barry Silbert serves as chairperson.
The trust, its sponsor, and related entities are consolidated subsidiaries of Digital Currency Group, Inc.
The sponsor stated that it does not expect the reorganization to have a material impact on the operations of the trust.
This information is based on a statement included in a recent SEC filing.
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