NYSE Arca has applied for the listing and trading of the Grayscale Spot Solana ETF.

NYSE Arca, the trading product platform of the New York Stock Exchange, has submitted an application for a spot Solana ETF on behalf of Grayscale Investments. The application was filed using Form 19b-4 and aims to request the U.S. Securities and Exchange Commission (SEC) to approve a rule change. Coinbase Custody Trust Company, LLC has been listed as the custodian, while BNY Mellon Asset Servicing will serve as the administrator. Over the past year, several companies, including 21Shares, VanEck, Bitwise Asset Management, and Canary Capital, have been vying for a spot Solana ETF. Market observers have noted that the election of Donald Trump as U.S. President and the resignation of SEC Chairman Gary Gensler have led to optimism in the industry regarding the approval of the Solana ETF. Grayscale has previously been granted approval for a spot Bitcoin ETF, and subsequently, the SEC also approved spot Ethereum ETFs, including Grayscale's Ethereum product.