Crypto ETF Arms Race Escalates as Grayscale, Bitwise Roll Out Solana Funds

The competition for crypto ETF dominance is heating up. Grayscale Investments has launched its Solana Staking ETF (GSOL), positioning itself as “among the largest Solana ETP managers in the US.”

This follows Bitwise’s own Solana ETF launch a day earlier, part of a broader industry push that also saw new Litecoin and HBAR funds listed on Nasdaq.

Notably, this product offensive is advancing despite a significant regulatory headwind: a US government shutdown that has left the SEC with a skeleton crew. The crypto industry appears to be capitalizing on the regulator’s reduced capacity to push its agenda and expand its product offerings to mainstream investors.

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