Grayscale Investments has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to list a spot Solana exchange-traded fund (ETF), identified as the Grayscale Solana Trust under the ticker GSOL. This filing is an attempt to convert the current Grayscale Solana Trust into a spot ETF format, similar to its prior conversions of Bitcoin and Ether products. The Trust claims to be the largest Solana investment fund globally, with approximately $134.2 million in assets under management at the time of the filing. Grayscale's move comes amid growing competition, joining ETF issuers such as 21Shares, Canary Capital, VanEck, and Bitwise, all of whom are vying for SEC approval. The interest in spot Solana ETFs has surged in light of the cryptocurrency's 275% price increase over the past 12 months, reaching a market cap exceeding $110 billion. This is a developing story that may have further updates.

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