Grayscale Solana Staking ETF filings document a Delaware trust sponsored by Grayscale Investments Sponsors, LLC, including registration-statement amendments for ETF shares and Form 8-K reports on material events. The records describe trust-agreement amendments, completed name changes from Grayscale Solana Trust (SOL) to Grayscale Solana Trust ETF and then to Grayscale Solana Staking ETF, sponsor fee terms, and governance by the sponsor and trustee.
The filings also cover the CoinDesk Solana Benchmark Rate used to calculate the trust’s Index Price. Material-event reports record changes in constituent digital asset trading platforms, including SOL-USD and SOL-USDC trading pairs, while registration materials describe the SOL industry and market, index methodology, and related trust disclosures.
Grayscale Solana Trust ETF (GSOL) reported two administrative updates. The Trust changed its name from “Grayscale Solana Trust (SOL)” to “Grayscale Solana Trust ETF,” effective October 28, 2025. The Sponsor also amended the trust agreement to reduce the Sponsor’s Fee to 0.35%, effective on the day the shares first list and trade on NYSE Arca, currently expected on October 29, 2025.
The Sponsor completed an internal corporate reorganization on October 22, 2025, making Grayscale Investments, Inc. the sole managing member of Grayscale Operating, LLC, the parent of the Sponsor. The board now overseeing the Sponsor consists of Barry Silbert (Chair), Mark Shifke, Simon Koster, Peter Mintzberg, and Edward McGee—the same individuals as before the reorganization. The Trust states it does not expect any material impact on operations.
A Form 144 notice discloses a proposed sale of 6,723 shares of common stock, with an aggregate market value of 98,424.72. The transaction lists Canaccord Genuity Corp as broker, an approximate sale date of 10/28/2025, and trading on the OTCQB. Shares outstanding were 7,231,035 at the time referenced in the notice.
The seller acquired these 6,723 shares on 07/20/2024 in a privately negotiated transaction from the issuer for cash. The notice also lists recent sales over the past three months, including 7,100 shares on 10/27/2025 for gross proceeds of 103,853.12 and 6,700 shares on 07/30/2025 for 99,585.45.
GSOL: A selling securityholder filed a Form 144 to sell up to 387 shares of common stock through Canaccord Genuity Inc. on or about 10/28/2025 on the OTCQB.
The filing lists an aggregate market value of 5,665.68 for the proposed sale and notes 7,231,035 shares outstanding. The shares were acquired on 10/19/2024 in a privately negotiated transaction, purchased from the issuer for cash on the same date.
GSOL: A shareholder filed a Form 144 notice to sell up to 7,100 common shares with an aggregate market value of $103,853.12. The planned sale is listed with Canaccord Genuity Corp as broker on or about 10/27/2025, with trading on the OTCQB.
The shares were acquired on 07/20/2024 in a privately negotiated transaction from the issuer for cash. The filer reported prior sales during the last three months, including 7,100 shares on 10/24/2025 and 6,700 shares on 07/30/2025. Shares outstanding were 7,231,035; this is a baseline figure, not the amount being offered.
GSOL: A shareholder filed a Form 144 notice to sell 7,100 common shares, reflecting an aggregate market value of $99,471.00. The filing lists Canaccord Genuity Corp as broker and indicates an approximate sale date of 10/24/2025 on the OTCQB. The table shows 7,231,035 shares outstanding.
The securities to be sold were acquired on 07/20/2024 in a privately negotiated transaction from the issuer for cash. The recent sales section lists multiple transactions by DCG International Investments Ltd, including 6,700 shares on 07/29/2025 and 5,500 shares on 08/05/2025, with disclosed gross proceeds for each sale.
Grayscale Solana Trust (GSOL) amends its IPO registration to describe risks, mechanics and governance of a spot SOL trust that will hold and (subject to conditions) stake SOL. The filing stresses that the Shares track the value of SOL held by the Trust and can be highly volatile due to market-wide liquidity declines, concentrated ownership, forks, validator behavior and regulatory change. The Trust uses a volume-weighted index with Coinbase as its principal market for GAAP NAV, relies on Coinbase Custody for cold storage of private key "shards," and outlines creation/redemption and liquidity processes using Authorized Participants, Liquidity Providers and a Liquidity Engager. The Sponsor will accrue a fee paid in SOL at an annual rate of 0.35%, and staking is subject to a Staking Condition that the Sponsor says has been satisfied for the specified form of staking. The filing also lists events that could force suspension or termination of the Trust or materially impair NAV per Share.
The prospectus amendment for the Grayscale Solana Trust (GSOL) reiterates that each Share represents an interest in actual SOL held in custody and that the Trust is expected to seek listing on NYSE Arca while currently quoted on OTCQX under the ticker GSOL. The Trust identifies Coinbase as its principal market for valuation as of June 30, 2025, and discloses operational terms including a 2.5% annual Sponsor's Fee paid in SOL and historical corporate actions such as a 5-for-1 share split on December 9, 2024 and prior reverse split.
The filing emphasizes extensive risks: extreme SOL price volatility; regulatory and tax uncertainty including potential security determinations; liquidity and market-immediacy risks causing market price to differ from NAV; staking-related risks including penalties, slashing, inaccessible staked SOL and a 5%–10% portion of gross staking rewards payable to the Custodian and Staking Provider; dependence on third-party service providers (Coinbase Custody Trust Company, LLC is the Custodian); and potential conflicts of interest involving the Sponsor and its affiliates.
Grayscale Solana Trust (GSOL) describes risks, mechanics and governance of a spot SOL trust converting to an ETF structure. The document lists extensive operational and market risks tied to SOL volatility, regulatory uncertainty, forks, staking risks including penalties/slashing and inaccessibility of staked SOL, dependency on third-party custodians and staking providers, and potential tax consequences for shareholders. The Trust uses Coinbase as its principal market for pricing, custody by Coinbase Custody Trust Company, LLC, a Sponsor fee that accrues at 2.5% annually payable in SOL, and expects staking rewards split to range approximately 5%–10% to custodian/staking provider. Creation/redemption mechanics use Baskets of 10,000 Shares and may involve cash-only or variable fee orders.
The prospectus also explains Index Price fallbacks, index constituent changes, security controls for cold storage, and circumstances that could trigger Trust suspension or termination.