In today’s crypto news, Grayscale Investments has introduced its staking-enabled Solana ETF on NYSE Arca, marking it as the second Solana ETP manager in the US. Ethereum’s Fusaka fork has launched on its final testnet, and Polymarket is set to relaunch trading services in the US in just a few weeks.
Grayscale launches Solana ETF, joining Bitwise in SOL staking ETF competition
Grayscale Investments has unveiled its staking-enabled Solana spot exchange-traded fund (ETF), providing more institutional access to Solana assets.
As stated in a Wednesday announcement, the Grayscale Solana Trust ETF has begun trading under the GSOL ticker on the NYSE Arca platform. This product integrates staking functionality, enabling investors to earn rewards via Solana’s proof-of-stake (PoS) network.
Grayscale’s senior vice president of ETFs, Inkoo Kang, emphasized that this new product is “broadening investor choice.” The firm is now positioned as one of the largest Solana (SOL) exchange-traded product (ETP) managers in the US based on assets under management.
The launch follows the introduction of Bitwise’s staking Solana ETF on Tuesday, which commenced with $222.9 million in assets. Grayscale’s launch had a seed of $102.7 million, which is less than half of Bitwise’s amount.
Ethereum’s Fusaka fork ready for mainnet after final testnet launch
Ethereum’s significant upgrade, Fusaka, launched on the blockchain’s final testnet, Hoodi, on Tuesday, paving the way for its Dec. 3 mainnet release, which aims to introduce several scalability and security enhancements.
Fusaka will incorporate various Ethereum Improvement Proposals (EIPs), such as Peer Data Availability Sampling, or PeerDAS, via EIP-7594, allowing validators to read smaller data segments on layer 2 networks rather than complete blobs, thereby improving node efficiency.
EIP-7825 and EIP-7935 will also feature in the update, aiming to raise the gas limit and enhance efficiency as Ethereum moves towards enabling parallel execution, which allows multiple smart contracts to be processed simultaneously. Other EIPs focus on advancing zero-knowledge rollups.
This upgrade intends to boost Ethereum’s scalability, which is one-third of the “blockchain trilemma” introduced by Ethereum co-founder Vitalik Buterin, alongside decentralization and security.
Polymarket targets November for US relaunch: Report
Prediction platform Polymarket is reportedly preparing to reintroduce trading services in the United States within weeks.
A Tuesday Bloomberg report, citing knowledgeable sources, indicates that Polymarket plans to initially offer limited trades to US residents before the end of November, with a focus on sports betting.
The relaunch news follows a no-action letter issued by the US Commodity Futures Trading Commission (CFTC) about two months ago to a crypto derivatives exchange and clearinghouse acquired by Polymarket, paving the way for the company to “go live in the USA,” as stated by CEO Shayne Coplan.
Reports from September suggested that if Polymarket reopened to US markets, it could reach a valuation of around $10 billion. As of June, the predictions platform was valued at approximately $1 billion after a $200 million funding round.
As of Tuesday, Polymarket’s website displayed a waitlist, indicating that it would “soon be available for US traders.” Cointelegraph reached out for further comment, but had not heard back at the time of publication.
