Türkçe
Español
Canada is officially preparing to launch Solana 
$149-based exchange-traded funds (ETFs). The Ontario Securities Commission (OSC) has approved four major asset management firms for a spot ETF involving the altcoin Solana (SOL). According to Bloomberg’s senior ETF analyst Eric Balchunas, these ETFs are set to begin trading on the Toronto Stock Exchange on April 16, Wednesday. Balchunas shared a screenshot on X platform showing official documents sent by TD Bank to institutional investors, stating that these ETFs will be “the world’s first spot Solana ETFs” offered by Purpose, Evolve, CI Financial, and 3iQ.
ETFs Come with Staking Feature
One of the most striking features of the new Solana investment products is their provision for staking. According to TD Bank’s documents, this feature offers a higher return potential compared to Ethereum 
$1,802 staking. It is also anticipated that staking can reduce the total holding costs of the ETFs.
The rewards obtained through staking could create an unconventional income model within traditional ETF structures. This offers new opportunities for institutional investors in terms of both portfolio diversification and risk-return balance. Canada’s move is particularly significant as there are currently no approved spot Solana ETFs in the U.S. market.
Competition Rises in the U.S. as Companies Await Approval
As Canada rolls out spot Solana ETFs, the race for similar investment products is intensifying in the U.S. Leading asset management companies such as Grayscale, Bitwise, 21Shares, Canary, and VanEck have already submitted applications for spot Solana ETFs. However, there are currently no approved spot ETFs from the U.S. Securities and Exchange Commission (SEC).
Meanwhile, in the U.S., futures Solana ETFs initiated by Volatility Shares are already trading in the market. Launched in March, these products have about 5.1 million dollars in assets for the Solana ETF and approximately 8.7 million dollars for its 2x leveraged version. However, analyst Balchunas notes that interest in these ETFs has been quite limited.
In his assessment of the ETFs, Balchunas remarked, “Even XRP’s 2x leveraged ETF attracted more capital than these two products,” highlighting the lack of investor interest.
