The Grayscale Solana spot ETF was launched, and the total net inflow of the US Solana spot ETF was $47.94 million on the first day.

On October 29th, Eastern Time, the Grayscale Solana Trust ETF (ticker symbol GSOL) was converted from a trust to an ETF and officially listed on the NYSE, becoming the second Solana spot ETF listed in the US after Bitwise. According to SoSoValue data, GSOL saw a net inflow of $1.4 million that day, with a trading volume of $4.86 million and a total net asset value of $103 million. The Bitwise Solana Staking ETF (ticker symbol BSOL) saw a net inflow of $46.54 million that day, with a cumulative net inflow of $116 million, a trading volume of $74.65 million, and a total net asset value of $330 million. As of press time, the total net asset value of Solana spot ETFs is $432 million, the Solana net asset ratio (market capitalization as a percentage of Solana's total market capitalization) is 0.40%, and the historical cumulative net inflow is $117 million. The Grayscale Solana Trust ETF currently only supports cash creation and redemption. The management fee rate has been reduced from 2.50% during the trust period to 0.35%. It supports Solana to provide additional income through staking. 23% of the staking income belongs to Grayscale, the custodian, and the staking provider, while the remaining 77% of the income is credited to the ETF assets.