"Grayscale Solana Trust ETF Becomes First to Uplist Under New SEC Standards"

"Davis Polk successfully advised Grayscale Investments on the uplisting of Grayscale Solana Trust ETF to NYSE Arca under the ticker "GSOL," marking the first Grayscale product to uplist as an ETF under new SEC standards. The trust offers exposure to Solana and its staking rewards through traditional brokerage and retirement accounts. Solana is a high-performance blockchain known for scalability and efficiency, making it a leading smart contract platform."

Davis Polk advised Grayscale Investments on the successful uplisting of Grayscale Solana Trust ETF to NYSE Arca, marking it as the first Grayscale product to uplist to an exchange-traded fund (ETF) under the new generic listing standards approved by the U.S. Securities and Exchange Commission. The transaction involved the uplisting of Grayscale Solana Trust ETF, which offers exposure to Solana and its staking rewards through traditional securities brokerage and retirement accounts. Shares of the trust are listed on NYSE Arca under the ticker “GSOL.” The trust’s registration statement became automatically effective 20 calendar days after its filing following Grayscale’s removal of the Rule 473 delaying amendment. The Davis Polk team included capital markets partners Joseph A. Hall and Daniel P. Gibbons, and associates Dylan H. Lojac, Marquis J. Pullen, and Jean (Jean Young) Koo; tax partners Patrick E. Sigmon and Lucy W. Farr, and associate Seth Cole; and financial institutions partner Zachary J. Zweihorn, and associates Justin Levine and Boaz B. Goldwater. Members of the team are based in the New York and Washington DC offices.

"Grayscale Solana Trust ETF Becomes First to Uplist Under New SEC Standards"

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