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A significant development has emerged in the cryptocurrency market. Renowned investment firm ARK Invest has taken an important step by adding Solana 
$177 staking access to U.S.-based exchange-traded funds (ETFs). However, this access was achieved indirectly through a Canada-approved product, with ARK including a total of 500,000 shares in the ARK Next Generation Internet (ARKW) and ARK Fintech Innovation (ARKF) ETFs.
Indirect Access Strategy to Solana
The investment made through the 3iQ Solana Staking ETF (SOLQ), which trades on the Toronto Stock Exchange and is approved by the Ontario Securities Commission, boasts a size of approximately $5.2 million. SOLQ provides investors with access to both Solana’s price movements and staking rewards. This move by ARK Invest effectively creates an indirect alternative to the still unapproved spot Solana ETFs in the U.S.
The timing of this investment is noteworthy alongside its technical details. The U.S. Securities and Exchange Commission (SEC) has yet to greenlight spot Solana ETFs. However, it does permit the trading of derivative products. Yet, these products do not provide direct access to staking revenue. ARK Invest’s use of a Canadian-based solution to fill this gap is viewed as a strategic maneuver.
Impact of Solana Staking on the U.S. Market
The ARKW and ARKF ETFs currently invest in major technology and finance companies such as Coinbase, Robinhood, and Block. Now, these ETFs have also indirectly entered the Solana ecosystem. With this move, ARK Invest has enriched its portfolio not only with innovative technology companies but also with staking-based cryptocurrency products.
According to DeFiLlama data, Solana ranks second in total value locked (TVL) behind Ethereum 
$2,563. Currently, the TVL on-chain exceeds $7 billion, indicating that Solana is not just a smart contract platform but also a significant investment vehicle.
Thanks to Canada’s regulatory approach, not only ARK Invest but also companies like Purpose Investments, Evolve ETFs, and CI Global have launched similar Solana-focused ETFs. For investors, such instruments offer attractive opportunities to benefit from both staking rewards and price movements, making the integration of cryptocurrencies into traditional financial products increasingly visible.
