The Firm's sixteenth publicly-quoted investment vehicle increases investors' ability to access digital assets through a familiar, secure, regulated U.S. security

STAMFORD, Conn., April 17, 2023 (GLOBE NEWSWIRE) -- Grayscale Investments, the world's largest digital currency asset manager, today announced that Grayscale Solana Trust (the "Trust") has begun trading on OTC Markets under the symbol: GSOL. Grayscale now offers 16 digital currency investment products quoted on OTC Markets.

Solana (SOL) is the native token of the Solana Network, a smart contract platform first conceived in a 2017 whitepaper. The Solana Network was designed to allow users to write and implement smart contracts which are executed on the Solana blockchain in exchange for payment of SOL. Like the Ethereum network, the Solana Network is one of a number of projects intended to expand blockchain use beyond just a peer-to-peer money system. The Solana protocol introduced the Proof-of-History timestamping mechanism, which is intended to provide a transaction processing speed and capacity advantage over other blockchain networks. The Trust is an investment vehicle that aims to allow investors to gain exposure to the price movement of Solana, so investors can avoid the challenges of buying, storing, and safekeeping the asset directly.

SECONDARY MARKET FOR THE PRIVATE PLACEMENT

The Trust has offered a private placement to accredited investors since November 2021. As of April 14, 2023, there were 304,427 Shares outstanding of GSOL. Shares created through the Trust's private placement become eligible to sell into the public market after a statutory one-year holding period pursuant to Rule 144 of the Securities Act of 1933.*

All investors with access to U.S. securities will be able to buy and sell freely-tradable GSOL Shares through their investment accounts, in the same manner as other securities.

INVESTMENT OBJECTIVE

The investment objective of the Trust is for the value of the Shares (based on Solana per Share) to reflect the value of Solana held by the Trust, determined by reference to the CoinDesk Solana Price Index (SLX) at 4:00 p.m. New York time, less the Trust's expenses and other liabilities.

The Trust is designed to track the CoinDesk SLX Index. The Trust will not generate any income, and regularly distributes SOL to pay for its ongoing expenses. Therefore, the amount of SOL represented by each respective Share gradually decreases over time. GSOL is not registered with the Securities and Exchange Commission and is not subject to disclosure and certain other requirements mandated by the Securities Exchange Act of 1934, but is subject to the OTC Markets' Alternative Reporting Standards.

GRAYSCALE PRODUCT FAMILY

Grayscale's investment products are available to institutional and individual accredited investors through their respective periodic and ongoing private placements. In addition to GSOL, Grayscale is also the Sponsor of single-asset investment products which provide exposure to Basic Attention Token (BAT), Bitcoin (BTC), Bitcoin Cash (BCH), Chainlink (LINK), Decentraland (MANA), Ethereum (ETH), Ethereum Classic (ETC), Filecoin (FIL), Horizen (ZEN), Litecoin (LTC), Livepeer (LPT), Stellar Lumens (XLM), and Zcash (ZEC).

Grayscale's diversified products include Grayscale DeFi Fund, which provides exposure to a diversified basket of DeFi digital assets designed to track the CoinDesk DeFi Select Index (DFX); Grayscale Digital Large Cap Fund, which provides exposure to the largest and most liquid digital assets through a market cap-weighted portfolio designed to track the CoinDesk Large Cap Select Index (DLCS); and Grayscale Smart Contract Platform Ex-Ethereum Fund, which provides exposure to a selection of industry-leading Smart Contract Platforms through a market cap-weighted portfolio designed to track the CoinDesk Smart Contract Platform Select Ex ETH Index (SCPXX).

This newly-trading product means that Grayscale now offers investors a total of 16 products with public quotations. Grayscale Basic Attention Token Trust (OTCQB: GBAT), Grayscale Bitcoin Trust (OTCQX: GBTC), Grayscale Bitcoin Cash Trust (OTCQX: BCHG), Grayscale Chainlink Trust (OTCQB: GLNK), Grayscale Decentraland Trust (OTCQX: MANA), Grayscale Ethereum Trust (OTCQX: ETHE), Grayscale Ethereum Classic Trust (OTCQX: ETCG), Grayscale Filecoin Trust (OTCQB: FILG), Grayscale Horizen Trust (OTCQX: HZEN), Grayscale Litecoin Trust (OTCQX: LTCN), Grayscale Livepeer Trust (OTCQB: GLIV), Grayscale Stellar Lumens Trust (OTCQX: GXLM), Grayscale Zcash Trust (OTCQX: ZCSH), Grayscale Digital Large Cap Fund (OTCQX: GDLC) and Grayscale DeFi Fund (OTCQB: DEFG) are also publicly-quoted and available to all investors with access to U.S. securities. Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for Shares on gsol/disclosure once trading for GSOL commences.

*The Trust offers a private placement to accredited investors. Because the Trust does not currently operate a redemption program, there can be no assurance that the value of the Shares will approximate the value of Solana held by the Trust, less the Trust's expenses and other liabilities, and the Shares may trade at a substantial premium over, or a substantial discount to, such value and the Trust may be unable to meet its investment objective.

This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Grayscale Investments
Grayscale enables investors to access the digital economy through a family of secure, regulated, and future-forward investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as the world's largest digital currency asset manager. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC). For more information, please follow @Grayscale or visit grayscale.com.

Media Contact
Jennifer Rosenthal
press@grayscale.com