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Will Solana's price increase by 50% by March 31, 2025, following Grayscale's ETF filing?
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Grayscale Investments•Grayscale Solana Trust•Solana•Grayscale•Solana Trust•DeFi•VanEck•21Shares•Canary Funds•Bitwise
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Story
Grayscale Seeks to Convert $134M Solana Trust to Spot ETF; SOL Price Surges
Dec 3, 2024, 09:33 PM
Grayscale Investments has filed with the U.S. Securities and Exchange Commission to convert its existing Grayscale Solana Trust into a spot Solana ETF to be listed on the New York Stock Exchange Arca. Grayscale's Solana Trust currently holds $134.2 million in assets, making it the world's largest Solana investment fund. Following the announcement, Solana's price surged 12%. Solana is up 260% in 2024, with its DeFi total value locked (TVL) reaching $9 billion. Other firms, including VanEck, 21Shares, Canary Funds, and Bitwise, have also applied for approval of spot Solana ETFs. The filing represents a significant step in opening up institutional access to Solana and reflects the growing interest in the cryptocurrency.
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