⚪️ Grayscale files to convert Solana Staking ETF to pay shareholders regularly

Grayscale has filed with the SEC to convert its Solana Staking ETF into a product that pays shareholders regularly. The fund outlined amendments to GSOL, allowing it to convert staking rewards into cash at least once a quarter and to pay the net proceeds to stakeholders.

Grayscale Asset Manager filed the new proposal with the Securities and Exchange Commission this week. The filing sought to change the ETF’s original structure, requiring the trust to convert its staking profits into cash at least quarterly.

The firm aims to distribute those proceeds, net of expenses, to shareholders.

🔸 Grayscale restructures GSOL to offer frequent rewards

Grascale began staking all of its SOL holdings, and those staking rewards currently yield approximately 6.1% annually, according to filings. Under the old structure, the yield accrued within the fund was reflected gradually in net asset value.

However, under the new proposed trust agreement, Grayscale will liquidate those rewards into dollars on a quarterly cadence, subtract trust expenses and sponsor fees, and distribute the profits directly to investors.

The U.S. Securities and Exchange Commission filing is careful to note that nobody should expect a fixed payout. The amount to be distributed will depend on the staking consideration actually received by the trust during each period and cannot be predicted with certainty.

According to the filing, the amount to be paid out each quarter will vary depending on validator performance on Solana and the prevailing staking yield at the time.

Grayscale used the same filing to formalize fee changes it had already begun phasing in before the amendment was announced. The sponsor fee dropped from 0.35% to 0.19% as of June 25. Grayscale also reduced the staking fee from 23% to 7%, increasing the potential payouts for investors.

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