Grayscale launches Solana trust product

Crypto asset management firm Grayscale has launched a Solana trust product for accredited investors via private placement.

The product will offer exposure to SOL, the native token used on the Solana blockchain. The launch comes two months after Grayscale rival Osprey Funds launched a Solana trust product.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Ethereum rival Solana is getting popular among decentralized finance (DeFi) projects. The price of its native token SOL has skyrocketed in recent months from $50 to over $200 currently as the blockchain has gained traction and SOL's demand has shot up from retail and institutional investors.

Grayscale Solana Trust is the firm's sixteenth product in its suite of investment offerings. Its other single-asset products offer exposure to bitcoin (BTC), ether (ETH), chainlink (LINK), decentraland (MANA), filecoin (FIL) and other coins. Grayscale also offers thematic funds like Digital Large Cap Fund and DeFi Fund.

Some of Grayscale's products are listed on the OTCQX over-the-counter (OTC) market. The firm said it might attempt to list the Solana trust and other new products on the OTC market.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.