If the application is approved, Coinbase Custody will become the custodian of the spot Solana-ETF, and one of the divisions of The Bank of New York Mellon will be the transfer agent issuing and redeeming the fund’s shares and its administrator.
The Grayscale Solana Trust (GSOL) launched in 2021 and currently has $134.2 million in assets under management. GSOL is a closed-end trust that is not publicly traded.
It should be noted that applications for the launch of Solana-ETF from Canary, VanEck, 21Shares and Bitwise are currently under consideration by regulators.
During November, Solana’s price rose more than 45%. The positive trend is driven by expectations regarding the possible approval of Solana-based spot exchange-traded funds.
Earlier, a popular cryptocurrency analyst under the pseudonym Inmortal said that Ethereum was consolidating and preparing to update historical highs. The SOL coin will also continue to grow.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
