Canada is set to launch North America’s first Solana exchange-traded funds (ETFs) with staking capabilities, marking a significant development in the cryptocurrency investment space. Following regulatory approval from the Ontario Securities Commission (OSC), trading is expected to begin on April 16, 2025, with four major issuers—Purpose, Evolve, CI, and 3iQ—at the helm. This launch follows a growing trend of cryptocurrency ETFs worldwide, as they become more integrated into traditional investment portfolios.
Canada is readying spot Solana ETFs to launch this week after regulator gave green light to multiple issuers incl Purpose, Evolve, CI and 3iQ. ETFs will include staking via TD pic.twitter.com/FSw149Xkm4
— Eric Balchunas (@EricBalchunas) April 14, 2025
These new Solana ETFs will hold physical Solana (SOL) assets and incorporate a unique staking mechanism, allowing investors to earn rewards by participating in Solana’s blockchain consensus process. As detailed by a circular from Toronto-Dominion Bank, these funds will track different indices while engaging in staking to generate rewards, potentially offering higher yields compared to Ethereum staking and lowering the overall holding costs for investors.
While Brazil made headlines in August 2024 by approving the first Solana ETF in Latin America, Canada is taking this innovation further by making staking a core feature of its ETFs. This development is particularly significant in the context of the global cryptocurrency landscape, as regulatory bodies in developed markets are still assessing the potential risks and benefits of staking within ETF structures.
Also Read: Grayscale Files for Litecoin and Solana ETFs Amid ETF Frenzy Post-Gensler Exit
The U.S. has yet to approve any staking-based ETFs, with asset managers such as WisdomTree, Bitwise, and 21Shares waiting for the green light from the U.S. Securities and Exchange Commission (SEC). Analysts expect that the SEC could approve staking within ETFs by late 2025, as global market trends continue to push the envelope on crypto investment opportunities.
Canada’s pioneering move with Solana ETFs and staking signals the growing acceptance of crypto in traditional finance, offering investors a new way to capitalize on Solana’s potential while earning rewards through staking.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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