Grayscale has submitted an amendment to the SEC for its Solana Staking ETF (GSOL) that would distribute staking rewards to shareholders in cash at least once a quarter. The filing, made this week, overhauls the fund’s structure to liquidate staking profits into U.S. dollars, subtract expenses and sponsor fees, and pay the net proceeds directly to investors.
The trust currently stakes all its SOL holdings, generating an estimated annual yield of approximately 6.1%. Under the former arrangement, those rewards accrued gradually in the fund’s net asset value. Now, Grayscale will convert them to cash on a quarterly schedule. The filing warns that payouts will vary and cannot be predicted, as they depend on validator performance and the prevailing staking rate during each period.
As part of the amendment, Grayscale formalized fee cuts already introduced. The sponsor fee drops from 0.35% to 0.19%, and the staking fee falls from 23% to 7%, increasing potential investor returns. The company also alerted shareholders to possible tax consequences from the new structure and urged consultation with tax advisors.
The proposed changes become effective on August 7. Grayscale launched the SOL ETF as a private placement in November 2021, and it uplisted to NYSE Arca on October 29, 2025. The firm began staking SOL shortly after, replicating a model it had already implemented for its ETH ETF earlier that year.
