Grayscale is turning its Solana staking ETF into something that actually pays you. The asset manager filed a prospectus supplement on July 17, 2026, outlining a Third Amended and Restated Trust Agreement for its Grayscale Solana Staking ETF, ticker GSOL, that introduces mandatory quarterly cash distributions of staking rewards to shareholders.
The amendment is expected to take effect on or around August 7, 2026. In plain terms: instead of staking rewards quietly accumulating inside the fund, Grayscale will now convert those rewards to cash and send the net proceeds to investors every quarter, or more frequently if it chooses.
## What the restructuring actually means
Here is how it works. GSOL stakes 100% of its SOL holdings, currently generating gross staking rewards of around 6.1% annually. Under the new structure, those rewards get liquidated to US dollars on a quarterly cadence, expenses and sponsor fees get deducted, and the remainder flows to shareholders as a cash distribution.
The catch, and it is a real one, is that distributions are not guaranteed. The amounts will fluctuate based on actual rewards received, which means they move with Solana’s network conditions, validator performance, and the prevailing staking yield at any given time.
