Grayscale’s Solana Trust (GSOL) is trading at a premium of 869% to its underlying assets amid a surge in institutional interest in the cryptocurrency industry, CoinGlass data shows.
The trust’s shares are priced at $202 following a 653% rise since the start of September, while the SOL token trebled to $58 from $19. CoinGlass shows it holds 115,900 tokens ($6.78 million) on behalf of its clients.
The widening premium comes after the underlying asset, SOL, surged 20% on Friday. Positive sentiment continues to build after FTX founder Sam Bankman-Fried was found guilty on seven counts of fraud earlier this month. The token was dubbed one of the “Sam