UAEGrayscale Solana Trust begins trading as ETF
Grayscale's Solana Trust, converted into an exchange-traded fund, is set to begin trading on Wednesday, 21 October 2026. The launch adds a second Solana ETF issuer to the U.S. market after Bitwise's debut, and involves the SOL token.
What is happening
Grayscale filed to convert its Solana Trust into an ETF, and trading is scheduled to start on Wednesday. The fund follows Bitwise's Solana ETF, which began trading on Tuesday on the NYSE alongside Canary's Litecoin and Hedera ETFs, according to Bloomberg analyst Eric Balchunas. These products launched under the Securities Act of 1933 structure.
Bitwise's Solana ETF recorded about $10 million in trading volume in its first 30 minutes. Canary's Hedera ETF posted $4 million and its Litecoin ETF $400,000 in early trading. Tuesday's launches featured a single issuer per asset, so Grayscale's entry will be the first time more than one issuer offers a spot Solana ETF.
The Solana products are described as staking ETFs, with staking adding a roughly 5% passive yield for holders, according to the source article.
Why it matters
Analysts have published estimates of potential flows into Solana ETFs, though these remain projections rather than outcomes. Bitget analyst Ryan Lee expects $3 billion to $6 billion of new capital in the first year, and JPMorgan gave a similar range. Bloomberg Intelligence analyst James Seyffart sees over $3 billion in inflows over 12 to 18 months if momentum matches earlier launches. For context, U.S. spot Bitcoin ETFs drew $36.2 billion and spot Ether ETFs $8.64 billion in their first year, according to SoSoValue.
For holders and traders, a second issuer gives investors more choice and may widen access to SOL through regulated brokerage accounts. Participants may watch first-day volume and early inflow data for Grayscale's fund and compare it with Bitwise's debut. Spot Bitcoin ETFs saw $628 million in first-day flows across multiple issuers, and Ether ETFs $106 million, which serve as reference points for multi-issuer launches.
Key details
- Date: 21 October 2026 (Wednesday)
- Project: Grayscale
- Coins: SOL
- Category: ETF Decision
- Status: Confirmed
- Source: CoinMarketCap Academy, "Solana ETF launches with 5% staking yields, $6B inflow expected" (https://coinmarketcap.com/academy/article/solana-etf-launches-with-5percent-staking-yields-dollar6b-inflow-expected)