Bloomberg Exchange Traded Fund analyst James Seyfartt revealed that the United States Securities and Exchange Commission has acknowledged Grayscale’s Solana’s 19b-4 marking a significant step toward the Solana ETF launch.
James Seyffart revealed the filling on his X page, stating that the deadline for the application will be somewhere around October 11.
Solana has been earmarked as one of the crypto assets expected to launch an exchange-traded fund soon following approval by the SEC.
Other crypto assets in the same category include XRP and Litecoin.
A new ETF product would complement the existing Bitcoin and Ethereum ETFs and facilitate the inflow of liquidity into the crypto market.
Grayscale’s Existing ETFs
Grayscale Investments offers a range of cryptocurrency-focused exchange-traded funds (ETFs) designed to provide investors with exposure to various aspects of the digital asset ecosystem.
Grayscale currently has two major ETF products based on Bitcoin and Ethereum the two largest crypto exchanges.
- Grayscale Bitcoin Trust ETF (GBTC): Initially launched as a trust in 2013, GBTC was the first publicly traded Bitcoin fund in the U.S. In 2024, it transitioned into a spot Bitcoin ETF, allowing investors to gain direct exposure to Bitcoin’s price movements through a traditional investment vehicle.
- Grayscale Ethereum Trust ETF: Originally established as a trust, this fund was converted into a spot Ethereum ETF in 2024. It offers investors exposure to Ether (ETH), the native cryptocurrency of the Ethereum network, through a regulated investment product.
Grayscale’s Solana ETF launch crossed a major milestone, with the SEC acknowledging its 19b-4 filling. An ETF filling is made up of an S-1 file and a 19b-4 file.
Both documents are screened and approved by the SEC before an ETF Launch is complete.
