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A recently published press release states that Grayscale's Solana (SOL) trust is now available for trading on the OTC Markets platform, exposing it to a wider circle of traders.
SOL Trust available on OTC Markets
Earlier today, the company spread the word that its 60th crypto trust is now available for trading on the OTC Markets platform. It is trading under the GSOL ticker.
Grayscale announces that the Grayscale Solana Trust has begun trading on the OTC market under the symbol GSOL. As of April 14, 2023, GSOL has 304,427 shares outstanding. The Trust aims to track the CoinDesk Solana Price Index (SLX). https://t.co/HUmWr73gen
— Wu Blockchain (@WuBlockchain) April 17, 2023
SOL is the native cryptocurrency of Solana, whose whitepaper first emerged in 2017. Solana Network is often called an "Ethereum killer," as its goal is to let developers create smart contracts that can work on the Solana Network powered by SOL tokens. Similarly to Ethereum, Solana intends to expand the utility of blockchain far beyond payments.
Cryptocurrency trusts provided by Grayscale are basically shares backed by actual cryptocurrencies stored by the company. But this way, investors get exposure to digital assets without facing the difficulties of buying and storing them in a direct manner.
There are over 304 GSOL shares, according to the press release. All crypto trusts of Grayscale are regulated by the Securities Act of 1933 and, therefore, trade as securities. U.S.-based investors can buy them directly, along with other securities.
Aside from GSOL, investors can buy 16 crypto trust shares on OTC Markets: Bitcoin (GBTC), Ethereum (GTHE), Stellar (GXLM) and more.
Vladislav Sopov