- Canada will launch the first spot Solana ETFs in North America with staking features on April 16.
- The new Solana ETFs will let investors earn rewards through staking while holding physical tokens.
- US investors watch as Canada moves ahead with Solana ETFs while US regulators delay similar approvals.
Canada will introduce the first spot Solana exchange-traded funds (ETFs) in North America on April 16, 2025. The ETFs will allow investors to gain exposure to physical Solana (SOL) tokens. These funds will also offer staking options, enabling investors to earn yield on their holdings.
Canada Moves Ahead of U.S. on Crypto ETFs
Four asset managers will list these ETFs on the Toronto Stock Exchange. They include Purpose Investments, 3iQ Digital Asset Management, CI Global Asset Management, and Evolve Funds Group.
This marks another early move by Canada, which launched the first spot Bitcoin and Ethereum ETFs before the United States. The U.S. has yet to approve similar Solana ETF products.
Analysts see this as another step in Canada’s proactive stance on cryptocurrency investment tools. It could influence regulatory trends elsewhere.
Staking Feature May Attract Investor Attention
These Solana ETFs will invest in the actual tokens and allow staking through TD Bank Group. Staking could offer better yields than Ethereum, possibly reducing ETF holding costs. Staking rewards work by locking tokens to help secure the blockchain network. In return, investors earn rewards over time.
The staking option adds value for those looking to benefit beyond simple price appreciation. It may help the funds gain traction in a competitive ETF market.
Analysts See Uncertain Early Momentum
Despite the innovation, some analysts remain cautious about investor interest. Past futures-based Solana ETFs in the U.S. failed to gain momentum. Early demand for the Canadian Solana ETFs may follow a similar pattern. The broader altcoin ETF market remains uncertain due to ongoing regulatory hurdles in the U.S.
Even so, Canada’s move could set a precedent. American investors are closely watching these developments as the U.S. SEC continues to review altcoin ETF applications.
Solana Joins List of Proposed Altcoin ETFs
In addition to Solana, proposed crypto ETFs in the U.S. include options tied to XRP, Cardano, and Litecoin. None have received approval yet. The SEC has also delayed a decision on Grayscale’s request to include staking in its Ethereum ETFs. That decision is now due by June 1, 2025.
This delay underscores the difference between Canadian and American approaches to crypto ETF approvals. Canadian regulators appear more open to innovative fund structures. The launch of Solana spot ETFs in Canada signals growing global interest in altcoin-based investment products.
