🔥 Grayscale files application to convert Solana Trust into ETF
✅ Good news: Grayscale is moving towards launching a Solana ETF.
❌ Bad news: Grayscale wants a Solana ETF.
If approved, Grayscale will proceed to sell off just like they did with Bitcoin and Ethereum ETFs. This could create downward pressure in the short term. However, in the long run, this is a positive signal as Solana has the opportunity to reach more institutional investors.
Grayscale reveals that the Solana Trust is currently managing 134.2 million USD in assets, accounting for about 0.1% of the circulating SOL supply.
💭 What is your opinion on this move by Grayscale?
