Grayscale fund management firm launched its Sol coin-backed Solana Trust products for their clients.
At present, Grayscale is grabbing huge popularity because of its bullish nature in the crypto market with its initiative of Bitcoin and other flagship crypto-assets backed product support. Right, Grayscale is popular in the US and also in many other countries because of the GBTC and Ethereum Backed Trust products, which allows wealthy investors the best option to invest in digital assets.
In the latest, Grayscale firm announced its “Grayscale Solana Trust”. Solana Trust will remain available for people to invest in Sol with the Grayscale product service.
On 30 November, Grayscale wrote on Twitter that
“The digital asset class is growing, and we’re expanding our offerings along with it! Gain exposure to $SOL, the native token of the @Solana network, through the new Grayscale #Solana Trust. Learn more: https://t.co/QiT6u0xI7h https://t.co/KAxRZAriRl”
After the announcement of Grayscale to launch Solana trust, many experts of the crypto industry claimed that Solana may soon touch $300 easily. However, currently, Sol is at $222, at the time of writing this article.
Grayscale on Bitcoin spot ETF
After the approval of three Bitcoin Futures ETF products by the SEC agency, Grayscale decided to change its GBTC into Bitcoin spot ETF and for this firm filed its application to the SEC in October. The SEC agency’s decision would likely to come before Christmas Eve.
However, recently the SEC agency rejected the application of VanEck’s Bitcoin spot ETF. In response, Grayscale wrote a letter to the secretary of the SEC agency and said that the SEC agency is not doing right by differentiating two similar things.
These things are clearly showing that Grayscale firm is aware of the future rejection from the SEC agency. However, it will be interesting to see whether the SEC agency will give any proper clarity on the rejection of the Bitcoin spot ETF or they will silently reject it.