Grayscale Investments, the biggest digital currency asset manager, has launched the Grayscale Solana Trust (GSOL) on OTC Markets. The launch comes amid legal wrangling with the SEC over the right to market a Bitcoin ETF.
Grayscale Investments, the world’s largest digital currency asset manager, has announced that the Grayscale Solana Trust (GSOL) has begun trading on OTC Markets under the symbol $GSOL.
At this time, the asset manager offers 16 digital currency investment products quoted on OTC Markets. But regulators in the US have not given a green light to all Grayscale products.
The asset manager launched its Solana Trust in November 2021. In theory, it offers an opportunity for investors to put money into Solana without purchasing it personally. By owning Solana, the value of the Trust’s shares vacillates in tandem with the digital currency’s value.
While SOL is up around 150% year to date, its price is still 75% below its $100 price point a year ago. Overall, SOL is down over 90% from its all-time high in June 2021.
As of April 14, 2023, there were 304,427 shares outstanding of GSOL. Shares created through the Trust’s private placement become eligible to sell into the public market after a statutory one-year holding period pursuant to Rule 144 of the Securities Act of 1933.
Grayscale Now Offers 16 Similar Products
The investment objective of the Trust is for the value of the shares (based on Solana per share) to reflect the value of Solana held by the Trust. The price r
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Author: Josh Adams
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