Grayscale has submitted a new filing to the SEC, and it’s like they’re trying to rename their Solana Trust to something equally as catchy—Grayscale Solana Trust ETF. It’s like when your friend changes their Instagram handle but still posts the same pictures. 📸
Remember that application they submitted to NYSE Arca on December 3, 2024? Yeah, it’s still sitting in the SEC’s “To Do” pile. 🗂️
The SEC has seen the application, but they’re playing hard to get. Grayscale says they won’t move forward until the SEC says “I do.” 💍
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In other news, Grayscale has decided to leave staking out of the ETF, which is like inviting everyone to a party but not serving the cake. 🎂 Investors won’t be getting any staking rewards from SOL tokens through the fund. Sad face. 😢
Grayscale made it clear that they won’t be playing validator in Solana’s proof-of-stake game, and they won’t be using SOL to make money. They also can’t promise that staking will ever be a thing for the ETF. So, don’t hold your breath. 🤷♀️
These updates are Grayscale’s way of saying, “We’re trying to make everyone happy, but it’s like herding cats.” 🐱
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2025-04-05 07:00