Grayscale

What Happened?
#Grayscale Investments has officially submitted an updated S-1/A filing to the U.S. Securities and Exchange Commission (SEC) for its proposed Grayscale Solana Trust (SOL) — a spot #SolanaETF
The updated document, filed publicly with the #SEC confirms a management fee of 2.5%, making it one of the highest among proposed crypto ETF products in the U.S. market.
Why This Matters
This update is significant for several reasons:
Confirms Grayscale’s ongoing commitment to offering a spot SOL productReveals fee structure transparency ahead of potential regulatory approvalSignals renewed momentum in the U.S. spot ETF race — following the greenlight for Bitcoin ETFs earlier in 2024
The 2.5% fee, while relatively high compared to traditional ETFs, is consistent with Grayscale’s fee structure for other trust products.
Where Does This Fit In?
Grayscale’s move comes amid a broader push by institutions to launch spot Solana ETFs.
Other major players — including VanEck, Franklin Templeton, and Fidelity — have also filed similar S-1s with the SEC this quarter, seeking to capitalize on Solana’s growing institutional interest and on-chain activity.
This increasing wave of filings may signal that Solana is maturing into an investable asset class, beyond just the crypto-native community.
Fee Breakdown: Is 2.5% Too High?
For context:
Traditional ETFs charge ~0.2–1%Bitcoin spot ETFs range from 0.19% to 1.5%Grayscale's own Bitcoin Trust initially had a 2%+ fee
A 2.5% fee on a Solana ETF will likely be criticized by cost-sensitive investors, but Grayscale seems confident that first-mover advantage + brand trust will justify the premium — especially if they secure early approval.
Market Perspective
While the SEC has yet to approve any spot Solana ETF, the flurry of activity — combined with clear disclosures like Grayscale’s — hints at a possible shift in regulatory tone.
If approved, this could:
Provide regulated U.S. access to Solana exposureAttract institutional capitalSolidify $SOL position alongside $BTC and $ETH as ETF-worthy assets
Final Take
Grayscale’s updated Solana ETF filing is more than just a paperwork update — it’s a strong signal that the race for U.S. altcoin ETFs is heating up.
With a 2.5% fee disclosed and the SEC reviewing multiple SOL filings, ETF-era Solana may be closer than many expect.
Follow CryptoPatel for ongoing ETF updates, regulatory insights, and institutional crypto coverage.
#solana #SEC

Assets managed by BlackRock's iShares Bitcoin Trust (IBIT) have surpassed $21.4 billion, outperforming the Grayscale Bitcoin Trust ETF (GBTC) by more than $1.6 billion. This significant growth is due to the steady influx of funds into the BlackRock Spot Bitcoin ETF since the beginning of the year.

Since the launch of the Spot #TopCoinsJune2024 #ETF on December 1/11, #BlackRock has seen millions of inflows every day, with inflows dropping slightly over the past 5 months and outflows even less so.
According to Farside data, BlackRock recorded its first ETF inflow since launch on December 1/11, which totaled more than $11 billion ($11,100 million). Since then, the ETF has attracted hundreds of millions, with 2024/3/12 recording a peak inflow of ¥84,900 million in the first year.
On the other hand, since #grayscale launched on May 1, capital outflows have been greater than inflows. Given that the Grayscale spot bitcoin-ETF recorded total capital outflows of 17.5 billion yen, it is not surprising that BlackRock's IBIT outperformed GBTC.
Data from the BlackRock fund website showed that the company's spot bitcoin-ETF has accumulated over 302,536 #TopCoinsJune2024 . This is over 1.4% of the total bitcoins in circulation. In contrast, Grayscale has accumulated about 285,105 BTC in trusts with assets currently totaling ¥19.75 billion.
Despite a brief influx of funds in May, grayscale continues to face significant outflows. The latest drop occurred on September 6/6 and September 7, with GBTC outflows reaching 33760 million and 33630 million respectively. \n Compared to the Grayscale spot bitcoin-ETF, BlackRock's IBIT has performed well. BlackRock currently charges an annual management fee of 0.25% for the spot bitcoin ETF, while the Grayscale spot bitcoin-ETF charges an expensive 1.5% fee.
These large differences in ETF fees have impacted outflows from GBTC since the beginning of the year. Many investors are moving assets out of the Grayscale Spot bitcoin-ETF into more cost-effective options like BlackRock's IBIT.
Farside reported a surge in capital inflows from Blackrock into the bitcoin-ETF spot, while IBIT recorded consistent inflows from Jan.

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