Core Insights - The OTC Markets in the US have become a strategic platform for small and medium-sized enterprises (SMEs) seeking overseas capital, with a notable increase in market activity and transaction volume in 2025 [2][15]. Group 1: Overall Market Status - As of December 31, 2025, the total number of securities in the OTC market was 12,299, a decrease of 105 from 12,404 at the end of 2024, representing a decline of 0.85% [3]. - The total trading volume for the OTC market in 2025 reached approximately $646.21 billion, with a monthly average of $55.69 billion [5]. - The Asian region has become a significant contributor to the OTC market, with 4,293 companies and a trading volume of $44.5 billion as of Q3 2025 [4][11]. Group 2: Market Structure and Reforms - A major reform implemented on July 1, 2025, optimized the market structure from three tiers to four: OTCQX, OTCQB, OTCID, and Pink Limited, enhancing risk differentiation and transparency [5][15]. - The OTC market's tiered structure has led to a concentration of quality companies in higher tiers, with only 4 companies in the OTCQX tier, representing less than 0.5% of the total [14]. Group 3: Transition to Main Board Markets - In 2025, 35 companies successfully transitioned from the OTC market to the main board, a decrease of 27.1% from 48 companies in 2024 [6]. - The Nasdaq was the preferred destination for these transitions, with 23 companies (65.7%) moving there, reflecting a shift in preference compared to 2024 [6][8]. Group 4: Chinese Enterprises in the OTC Market - By the end of 2025, there were 848 Chinese companies listed on the OTC market, covering diverse sectors such as renewable energy, biomedicine, and internet services [11]. - The majority of Chinese companies are concentrated in the Pink Limited and expert markets, indicating a need for improved compliance and operational standards to access higher-tier markets [14]. Group 5: Future Outlook - The OTC market is expected to remain active in 2026, driven by policy reforms and an improving regulatory environment, with a continued focus on the "OTC cultivation, then main board transition" strategy for Chinese enterprises [15].

Product Launch - Grayscale Solana Trust ETF (ticker: $GSOL) options are now live, offering more trading opportunities [1] - Grayscale Solana Trust ETF features 100% staking and 0% fee [1] - The ETF averages over 7% staking rewards rate [1] Investment Opportunity - The ETF provides exposure to the Solana crypto ecosystem [1]

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Congrats on the $GSOL listing 🤝Grayscale Solana Trust ETF - now on NYSE Arca.https://t.co/FOBIoL9aTVGrayscale (@Grayscale):Introducing Grayscale Solana Trust ETF (Ticker: $GSOL), offering investors exposure to @Solana $SOL, one of the fastest-growing digital assets.$GSOL features:⚡ Convenient Solana exposure paired with staking benefits.🔑 Exposure to a high-speed, low-cost blockchain. https://t.co/TgVNlhqBPO ...

Product Launch - Grayscale launches Grayscale Solana Trust ETF (Ticker: $GSOL), providing investors exposure to Solana ($SOL) [1] - $GSOL offers convenient Solana exposure paired with staking benefits [1] Solana Highlights - Solana is a fast-growing digital asset [1] - Solana is a high-speed, low-cost blockchain [1] - Solana's infrastructure enables it to handle thousands of transactions per second at scale [1] - Solana is a blockchain built for everyone, including first-time users, businesses, and financial institutions [2]

🇺🇸 LATEST: Grayscale Solana Trust ETF is approved for listing and registration on NYSE Arca, with trading begins tomorrow.Another spot Solana ETF in the US. https://t.co/OuumSC84Vp ...

ETF Launch - Grayscale Solana Trust ETF (Ticker: $GSOL) 将在 NYSE Arca 交易所开始交易 [1] - $GSOL 为投资者提供直接投资 $SOL 的机会，包括潜在的 staking 奖励 [1] Investment Focus - 该 ETF 旨在为投资者提供 Solana (SOL) 的直接敞口 [1] - 关注点包括 Solana 的 staking 奖励 [1]

RT Grayscale (@Grayscale)Grayscale Solana Trust ETF (Ticker: $GSOL) offers investors direct exposure to $SOL, including its potential staking rewards.$GSOL starts trading on @NYSE Arca tomorrow.https://t.co/VnOJrBLbX1 https://t.co/w8FVdzM9UX ...

U.S. SEC approves Grayscale Solana Trust ETF $GSOL for listing and registration ...