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Grayscale Files S-1 for Solana ETF on NYSE Arca, Excludes Staking Amid Fidelity`s Bid

Grayscale Investments has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Solana Trust (GSOL) into a spot Solana ETF, to be listed on NYSE Arca. This move follows a previous 19b-4 filing with the NYSE in December 2024, indicating a continued effort to expand investor access to cryptocurrencies on Wall Street. The proposed ETF, if approved, will not include any Solana staking functionality, as stated in the registration statement. This decision aligns with Grayscale`s approach to other spot ETFs, such as those for Bitcoin and Ethereum, which also excluded staking to meet regulatory requirements. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinTurk News

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GameStop to Acquire Bitcoin With $1.5 Billion as CEO Ryan Cohen Buys $10.8M in Shares

GameStop Corp., led by CEO Ryan Cohen, has announced plans to add Bitcoin to its corporate treasury. The company recently closed a $1.5 billion capital raise, with the funds primarily allocated for Bitcoin acquisition. The board approved the plan in late March, leveraging the company`s $6 billion cash reserves. In line with this strategy, Cohen purchased an additional 500,000 shares of GameStop stock at $21.55 per share, totaling approximately $10.8 million. This raises his ownership stake to 8.4%, or 37.3 million shares, according to a U.S. Securities and Exchange Commission filing. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinTurk News