Digital assets behemoth Grayscale has become the latest entrant into the Solana ETF race as it seeks to convert its existing Solana Trust (GSOL) into a spot SOL exchange-traded fund.

Grayscale’s filing highlights growing institutional confidence in Solana, following in the footsteps of Bitcoin (BTC ($106,140.08)) and Ethereum (ETH ($3,278.75)), which scored their own ETFs on Wall Street earlier this...