TechFlow, October 30 — On October 29, Eastern Time, the Grayscale Solana Trust ETF (ticker: GSOL) converted from a trust to an ETF and officially listed on the New York Stock Exchange, becoming the second Solana spot ETF in the United States after Bitwise.
According to SoSoValue data, GSOL recorded a net inflow of $1.4 million on that day, with a trading volume of $4.86 million and total net assets of $103 million.
Bitwise Solana Staking ETF (ticker: BSOL) saw a net inflow of $46.54 million on the same day, bringing its cumulative net inflow to $116 million, with a trading volume of $74.65 million and total net assets of $330 million.
As of press time, the total net assets of Solana spot ETFs have reached $432 million, representing a net asset ratio (percentage of Solana's market capitalization) of 0.40%, with a historical cumulative net inflow of $117 million.
The Grayscale Solana Trust ETF currently supports only cash creation and redemption. Its management fee has been reduced from 2.50% during its trust phase to 0.35%. The ETF supports Solana staking to generate additional yield, with 23% of staking rewards allocated to Grayscale, the custodian, and the staking provider, while the remaining 77% of rewards are credited to the ETF's assets.
