Digital asset manager Grayscale Investments has launched its new product tracking Solana’s native token to mark its 16th investment offering, the firm announced in a statement.

  • The trust will “solely and passively” invest in Solana network’s native token SOL, which was first conceived as a smart contract platform in a whitepaper released in 2017.
  • The offering is available for daily subscriptions for select individual and accredited institutional investors, functioning the same as Grayscale’s other single-asset investment trusts.
  • Grayscale said it might seek to have the shares of new products quoted on a secondary market, but investors in a new product should not assume that the shares will ever obtain approvals from regulators.

Grayscale is currently seeking to convert its GBTC into a Bitcoin Spot ETF in the American market.  SOL is up 6.07%, GBTC is up 1.48%, and BTC is up 2.94%.