Key Takeaways
Will Grayscale SOL ETF’s debut trigger outflows?
It was unclear, but market sentiment was neutral to bullish in the mid-term.
What are analysts’ projections for SOL ETFs?
Bloomberg analysts expect over USD 3 billion in inflows within 12 months.
Grayscale is scheduled to launch its U.S.-based Spot Solana [SOL] ETF (exchange-traded fund), a day after Bitwise made a similar move.
The New York Stock Exchange (NYSE) signed off and certified Grayscale’s product (GSOL), effectively allowing it to begin trading on the 29th of October. In fact, the digital asset manager confirmed the launch, adding that the GSOL would include staking rewards.
Worth noting that the GSOL will be converted into an ETF. However, it has been in operation for four years as Grayscale Solana Trust.
As of writing, the Trust had 525,387 SOL, translating to $102.6 million in assets under management (AUM). About 75% of the stash is staked.
What’s next for SOL price?
The Bitwise SOL ETF (BSOL) raked in $56 million in day-one trading volume and
Go to Source to See Full Article
Author: Benjamin Njiri
