Grayscale Investments Files to Convert Solana Trust Fund to ETF, SOL Price Soars

Grayscale Investments has filed to convert its existing Solana Trust Fund to a Spot ETF on the NYSE Arca. The move aims to expand its $134 million investment in Solana into a more accessible form.

This news is very positive for Solana SOL, as it means that Wall Street’s top investment firms are confident in its chances of approval. This could open the door to a large influx of institutional money into the cryptocurrency.

Solana SOL price surged more than 8% to $237 immediately after the news was released. This comes after a 12% decline last week that saw the price reach $215.

Solana previously hit an all-time high of over $260 before seeing a dip.

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