PANews reported on October 30 that on October 29, Eastern Time, the Grayscale Solana Trust ETF (ticker symbol GSOL) was converted from a trust to an ETF and officially listed on the New York Stock Exchange, becoming the second Solana spot ETF listed in the United States after Bitwise.

According to SoSoValue data, GSOL saw a net inflow of $1.4 million, a transaction volume of $4.86 million, and a total net asset value of $103 million on that day.

The Bitwise Solana Staking ETF (ticker symbol BSOL) saw a net inflow of $46.54 million on the day, bringing the cumulative net inflow to $116 million. The trading volume for the day was $74.65 million, and the total net asset value was $330 million.

As of press time, the Solana spot ETF has a total net asset value of $432 million, a net asset value ratio (market capitalization as a percentage of Solana's total market capitalization) of 0.40%, and a historical cumulative net inflow of $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.