Grayscale has reduced both the management fee and staking fee for Grayscale Solana Staking ETF (Ticker: GSOL). The management fee has been lowered to 0.19% (19 bps), while the fee associated with staking has been reduced to 7%. Together, these fee reductions make GSOL among the lowest-fee Solana exchange-traded products for investors seeking exposure to SOL and its potential staking rewards.
Grayscale Solana Staking ETF (GSOL), an exchange traded product, is not registered under the Investment Company Act of 1940 ("40 Act") and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. GSOL is subject to significant risk and heightened volatility. GSOL is not suitable for an investor who cannot afford the loss of the entire investment. An investment in GSOL is not a direct investment in SOL.
WHY SOLANA? Proven scale. Solana is a high-performance, low-cost blockchain capable of processing thousands of transactions per second. Its scalability and accessibility have attracted a broad range of users — from individual developers to global enterprises — making it one of the most widely adopted platforms for building and deploying decentralized applications.
WHY GSOL? Cost-efficient exposure. GSOL combines exposure to the SOL token with the opportunity to participate in potential staking rewards through a familiar exchange-traded product structure. With reduced management and staking fees, GSOL is designed to deliver more of its economics directly to investors.
WHY GRAYSCALE? Industry expertise. Sponsored by Grayscale, the world's largest digital asset-focused investment platform with over a decade of experience managing crypto investment products, and the first to bring staking to U.S. spot exchange-traded products1.
For more information about GSOL or Grayscale, don't hesitate to reach out to us at info@grayscale.com or call 866-775-0313.
1 Largest crypto-focused asset manager based on AUM as of 03/31/2026. For other companies in this category, AUM is considered as of most recent public disclosure.
Important Disclosures
Please read the prospectus carefully before investing in Grayscale Solana Staking ETF ("GSOL" or the "Fund"). Foreside Fund Services, LLC is the Marketing Agent and Grayscale Investments Sponsors, LLC is the Sponsor of GSOL.
When a Fund stakes its underlying asset, the token is subject to the risks attendant to staking generally. Staking requires that the Fund lock up the token for the period of time required by the staking protocol, meaning that the Fund cannot sell or transfer the staked token, thereby making it illiquid for the period it is being staked. In addition, during the lock-up period, the Fund is subject to the market price volatility of underlying asset, and it may miss opportunities to sell during opportune times. During the unstaking period, the Fund may miss out on earning opportunities because, in some cases, the staked token may not earn rewards during the unstaking period or may only earn rewards during part of the unstaking period. Staked assets are also subject to security breaches, network downtime or attacks, smart contract vulnerabilities, and validator or custodian failure or compromise, which can result in a complete loss of the staked asset or a loss of any rewards. Potential staking rewards are earned by the Fund and not issued directly to investors.
Extreme volatility of trading prices that many digital assets, including SOL, have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of GSOL and the shares could lose all or substantially all of their value. Digital assets represent a new and rapidly evolving industry. The value of the Fund depends on the acceptance of the digital assets, the capabilities and development of blockchain technologies and the fundamental investment characteristics of the digital asset. As a non-diversified and single industry Fund, the value of the shares may fluctuate more than shares invested in a broader range of industries. Extreme volatility, regulatory changes, and exposure to digital asset trading platforms may impact the value of Solana, and consequently the value of the Fund.
This communication is not directed at any person located outside the United States. Neither the Trust nor Grayscale is making an offer to sell shares or soliciting any offer to buy shares to any person located in any jurisdiction other than the United States.
This communication is the sole responsibility of the sponsor. Neither Coindesk, Inc nor any of its affiliates ("Coindesk") are responsible for the content of this communication. Coindesk does not intend to make any offer or solicitation to any person with respect to any products and/or services referred to in this communication.
CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York, NY 10011, USA
Bitcoin derivatives are signaling panic — and historically, that’s set up the snapback trade. Perpetual funding rates went deeply negative overnight, meaning shorts are paying longs, a sign of forced capitulation rather than strategic positioning. Over $1 billion in longs got liquidated. BTC briefly touched $60,000. The instrument that will determine whether panic becomes recovery is today’s core PCE print. A soft number would compress rate hike expectations, weaken the DXY, and hand bulls a catalyst. The Micron earnings beat last night helped BTC claw back to $62,800 before the Asian session resumed selling.
Grayscale Solana Trust ETF (ticker: GSOL) is now delivering enhanced value to investors, including 100% staking.* Solana staking rewards have historically averaged 6-8% a year.2
GSOL, an exchange traded product, is not registered under the Investment Company Act of 1940, as amended (“40 Act”), and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. GSOL is subject to significant risk and heightened volatility. GSOL is not suitable for an investor who cannot afford to the loss of the entire investment. An investment in GSOL is not a direct investment in Solana.
Please read the prospectus carefully before investing in the Fund. Foreside Fund Services, LLC is the Marketing Agent for the Fund.
Potential staking rewards are earned by the Fund. Staking rewards are not guaranteed and should not be considered an indication of Fund performance. The Fund’s ability to engage in staking is conditional and may be modified. Staking requires that the Fund lock up SOL for the period of time required by the staking protocol, meaning the Fund cannot sell or transfer the staked SOL, thereby making it illiquid for the period it is being staked.
1 As of 6/4/26
2 Stakingrewards.com. The range observed is from 09/16/22 to 09/28/25 and the average over this period is 7.10%. Past performance is not indicative of future results.
CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets.
L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal.
What matters today
Markets
Story 1 of 2
Bitcoin derivatives signal panic. A weak core PCE reading could trigger a snapback.
Perpetual futures funding rates turned deeply negative overnight — the sharpest reading since February — signaling that the market has shifted from orderly selling into forced capitulation. When funding is deeply negative, shorts pay longs, which means bears are paying a premium to hold their positions. Historically that dynamic has resolved quickly: either longs get flushed out entirely or a catalyst flips funding positive, triggering an accelerated short squeeze. Bitfinex margin longs simultaneously swelled to their highest since early 2024 — experienced buyers stepping in at cycle lows. BTC touched $60,000 before clawing back. The $10.5 billion quarterly options expiry is tomorrow, with max pain at $72,000 — BTC is well below that level, meaning the pinning dynamic that typically compresses moves into expiry does not apply here. Today’s core PCE print is the hinge: a soft reading (below 0.35% month-on-month) would compress rate hike expectations, weaken the dollar, and hand bulls their catalyst. A hot print would confirm the hawkish Warsh narrative and likely test $59,000.
Bitcoin and ether lead $1 billion in liquidations as the AI trade keeps going.
More than $1 billion in crypto long positions were liquidated overnight as panic in Strategy’s preferred stock STRC spread to the broader market. STRC fell as low as $79.91 — roughly 20% below its $100 par value — and is currently paying an effective annualized yield above 14%, a level that in traditional credit markets signals extreme distress. MSTR (the common stock) fell 10.7% to $92.71, its weakest level since early 2024. The selling cascaded into BTC as traders processed the implications: Strategy holds 847,363 BTC with an average cost of $75,651, sitting on a $10.6 billion unrealized loss, and its dividend coverage has collapsed from seven years to 14 months. Meanwhile the AI trade held: Micron beat earnings ($19.72 EPS on $34.5B revenue vs. consensus estimates), SK Hynix filed a $30 billion U.S. IPO, and Bessent told reporters he expects 3%+ GDP growth. The semiconductor and AI infrastructure trade that caused this selloff is not reversing — it’s the capital rotation dynamic that will keep compressing crypto until the macro backdrop shifts.
Combined spot and derivatives trading on centralized exchanges fell to $4.41T in May, the weakest month since September 2024, as RWA perpetual futures volumes bucked the trend to hit an all-time high.
CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets.
L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal.
Crypto Daybook Americas: A newsletter from CoinDesk
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