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2025-02499 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the Grayscale Solana Trust Under NYSE Arca Rule 8.201-E, Commodity-Based Trust Shares
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February 12, 2025
Type:Notice
Citation:90 FR 9470
Reading Time:about 98 minutes
On January 24, 2025, NYSE Arca filed a proposed rule change with the Securities and Exchange Commission to list and trade shares of the Grayscale Solana Trust, which deals with Solana cryptocurrency, under specific trading rules. This proposal aims to institute a new way for people to securely invest in Solana via a regulated exchange. The Grayscale Solana Trust, governed by a sponsor and custodian, is structured to prevent fraud and ensure fair pricing. The SEC is currently reviewing the proposal and seeking public comments to evaluate its compliance with regulations designed to protect investors and maintain market integrity.
Simple Explanation
Imagine a treasure chest where people can safely keep their shiny Solana coins, a type of digital money, at a special place called NYSE Arca. They want to make this treasure chest really safe and fair, so they are asking some smart people, like the SEC, to make sure everything is okay before they open it for everyone to use.
2025-04225 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the Grayscale Solana Trust Under NYSE Arca Rule 8.201-E, Commodity-Based Trust Shares
March 17, 2025
Type:Notice
Citation:90 FR 12410
Reading Time:about 2 minutes
NYSE Arca, Inc. submitted a request to the Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Solana Trust. They made an amendment to their proposal, and as a result, the SEC is extending its review period due to the complexity of the issues involved. The new deadline for the SEC to make a decision on whether to approve or disapprove the proposal is set for May 13, 2025. This extension will allow the SEC additional time to consider the details of the proposed changes.
Simple Explanation
Imagine that a store wants to start selling a new kind of toy called "Grayscale Solana Trust." The group in charge of making sure this is safe and okay, called the SEC, needs more time to decide if it's alright for the store to sell these toys. So, they're taking a longer time to look at all the details until May 13, 2025, to make sure everything is okay for the people who want to buy them.

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