GSOL vs SOEZ: which tracked its coin?
GSOL closed unchanged on more than a twentieth of its trading days, so its difference from Solana is not comparable with SOEZ’s. Grayscale Solana Staking ETF and Franklin Solana Trust.
GSOL over 1 year: fund −44.43%, Solana −43.44%, thinly traded so not compared.
SOEZ since launch: fund −13.72%, Solana −18.41%, 5.74% ahead of Solana, compounded.
The same coin, two trusts
GSOL and SOEZ hold the same asset. Both are 1933 Act trusts holding Solana through a custodian, so neither has a portfolio to compare: the whole of each fund is one line. GSOL closed unchanged on more than a twentieth of its trading days, so its distance from Solana is a quote nobody moved rather than a cost a holder paid, and ETFIQ neither prints it nor ranks it. GSOL has 951 more days of record than SOEZ, and a longer record is a longer window over which a cost can show itself.
Performance, window by window
| Total return | The coin over the same days | Difference, percentage points | ||||
|---|---|---|---|---|---|---|
| Window | GSOL | SOEZ | GSOL | SOEZ | GSOL | SOEZ |
| 1 month | +13.3% | +13.3% | +14.6% | +14.6% | not comparable | −1.3 pts |
| 3 months | +53.9% | +54.0% | +52.6% | +52.6% | not comparable | +1.5 pts |
| 6 months | −36.3% | +43.4% | −39.1% | +45.4% | not comparable | −2.0 pts |
| 1 year | −44.4% | not published | −43.4% | not published | not comparable | not published |
| Since each listed GSOL Apr 2023 · SOEZ Dec 2025 | +101.5% | −13.7% | +428.6% | −18.4% | not comparable | +5.7% of its growth |
GSOL and SOEZ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
GSOL and SOEZ on the same fields, as of Sep 30, 2026. Source: ETFIQ.
GSOL in plain words
GSOL holds Solana through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the year to Sep 30, 2026, Solana moved −43.4% and GSOL returned −44.4%. That leaves it not comparable. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks, and whatever the market paid for the shares rather than for the coin, all of it together. It is the only figure on this page the sponsor does not publish itself. GSOL closed unchanged on 50 of its 717 trading days. A price that does not move is a price nobody traded at, so its difference against Solana describes the days somebody did trade rather than the fund, and ETFIQ does not rank it against funds that trade every day. Solana is a proof of stake chain, so a fund holding it can stake. GSOL’s own filings say it does (424B3, Aug 7, 2026). Over the window ETFIQ measures it did not finish ahead of Solana’s own price, so whatever it earned did not cover its costs. A spot trust is not a registered investment company. It files a 10-K rather than an N-PORT, and its holding is one line: the Solana it custodies.
SOEZ in plain words
SOEZ holds Solana through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since it listed to Sep 30, 2026, Solana moved −18.4% and SOEZ returned −13.7%. That leaves it 5.7% ahead once both returns are compounded. Over a window this long the two returns cannot simply be subtracted. Doing it would read +4.7 pts, which is correct and describes nothing a holder can act on: what the figure above states is the gap between the two growth factors, so a fund that kept 106% of what holding the coin gave says exactly that. SOEZ charges 0.19% a year and finished 5.7% ahead of Solana, which a fee cannot do on its own. SOEZ’s own filings say it does (424B3, Aug 26, 2026). What the prices show is that it finished 5.7% ahead of Solana’s own price over the same days, against +3.0% for the other 7 funds holding Solana. After a fee, an in-kind ETP ahead of the asset it holds got there by staking.
Questions people ask
- Can GSOL and SOEZ be compared on tracking?
- GSOL closed unchanged on more than a twentieth of its trading days. A price that does not move is a price nobody traded at, so the difference from Solana describes the days somebody did trade rather than the fund, and ETFIQ publishes it nowhere and ranks it against nothing.
- Do GSOL or SOEZ pay a staking yield?
- Solana is a proof of stake chain, so staking is possible. Whether either trust stakes, and what the sponsor keeps of it, is a term in its own filings and is read from those rather than assumed.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, GSOL against SOEZ, data as of Sep 30, 2026. https://etfiq.com/compare/crypto/gsol-vs-soez
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, GSOL against SOEZ, data as of Sep 30, 2026. https://etfiq.com/compare/crypto/gsol-vs-soez Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, GSOL against SOEZ, data as of Sep 30, 2026. https://etfiq.com/compare/crypto/gsol-vs-soez
- APA
- ETFIQ. (Sep 30, 2026). GSOL against SOEZ. Retrieved from https://etfiq.com/compare/crypto/gsol-vs-soez
- Markdown
- [GSOL against SOEZ (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/crypto/gsol-vs-soez)