Wall Street Opens to Solana as First U.S. Spot ETF Launches on NYSE

Bitwise’s BSOL ETF debuts on NYSE as the first U.S. spot Solana ETF with built-in staking rewards of around 7%.

Grayscale’s GSOL Trust will convert to a spot ETF on October 29, expanding regulated Solana investment options.

SEC guidance amid the government shutdown enabled BSOL’s approval, allowing ETF filings to move forward automatically.

The long-anticipated Solana exchange-traded fund has officially made its debut on Wall Street. Bitwise’s Solana Staking ETF, trading under the ticker BSOL, began trading today on the New York Stock Exchange, the first U.S.-approved spot Solana ETF

The fund offers investors direct exposure to SOL while integrating staking rewards estimated at around 7% annually, according to Bitwise. The listing arrives amid limited regulatory activity caused by the ongoing U.S. government shutdown, making its approval process especially notable.

Dual Launches Bring New Institutional Access

According to Bloomberg ETF analyst Eric Balchunas, the Grayscale Solana Trust (GSOL) will convert into a spot ETF on October 29, giving institutions a second regulated avenue for exposure to SOL’s price performance and staking yield. These developments expand Solana’s accessibility on traditional markets, a space previously dominated by Bitcoin and Ether ETFs.

Crypto analyst Bitcoinsensus described the approval as a key milestone for broader altcoin ETF adoption in the U.S., noting the inclusion of staking functionality within a regulated investment product. Notably, a similar product, the REX-Osprey Solana Staking ETF (SSK), recorded more than $12 million in first-day volume when it launched earlier this year.

Institutional Demand Expected to Accelerate

Market interest in Solana-based investment vehicles appears to be growing quickly. JPMorgan analysts recently projected that a U.S. Solana ETF could attract between $3 billion and $6 billion in its first year, based on comparable flows into Bitcoin and Ether ETFs. Bitwise stated that Solana is now positioned at the forefront of mainstream financial access, reflecting its growing role in digital asset infrastructure.

Further highlighting the importance of the milestone, Kristin Smith, president of the Solana Policy Institute, said the ETF’s launch illustrates recognition of Solana’s utility in financial systems. She added that the network’s architecture continues to support the rebuilding of global financial rails.

SEC Procedures Enable ETF Approvals Despite Shutdown

The ETF’s launch comes during a prolonged federal government shutdown, which has significantly reduced SEC operations. Despite staff furloughs, the agency’s shutdown plan permits certain filings to proceed automatically

According to guidance issued earlier this month, firms can file an S-1 registration without a delaying amendment, allowing the ETF to become effective after 20 days. Before the shutdown, the SEC also approved listing standards for multiple exchanges seeking to trade commodity-based trust shares

This rule adjustment allows a growing list of crypto ETF applications to move forward. Some issuers, including Canary Capital, are now preparing to launch additional products such as Litecoin (LTC) and HBAR ETFs on Nasdaq this week, indicating a broader wave of digital asset listings in U.S. markets.

The post Wall Street Opens to Solana as First U.S. Spot ETF Launches on NYSE appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.