Grayscale’s planned ETF, set to trade under the ticker GSOL on NYSE Arca, will operate with a 2.5% sponsor fee and use Coinbase Custody as its sole custodian. The trust will rely on a cash-only model for share creation and redemption, with no in-kind transactions supported at launch.
The fund will passively hold SOL, tracking the CoinDesk SLX Index, and may introduce staking in the future if regulatory conditions allow. Derivatives and leverage are off the table.
VanEck’s competing fund, VSOL, aims to list on Cboe BZX with a lower 1.5% fee and will be jointly custodied by Gemini and Coinbase. Unlike Grayscale, VanEck’s filing includes an active staking strategy, with rewards reinvested into the fund.
The firm also hinted at the future inclusion of liquid staking tokens, pending regulatory approval. Validator selection will follow strict criteria tied to performance and security.
Both funds are structured as grantor trusts, meaning they fall outside the scope of the Investment Company Act and the Commodity Exchange Act. With fee structures and staking strategies now public, all eyes turn to the SEC for a final decision on approval.
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