Canada is set to launch the world’s first spot Solana (SOL) ETFs on April 16, 2025. This follows approval from the Ontario Securities Commission.
The announcement comes as Solana’s price surged by 25% in just one week. This increase reflects strong investor interest and heightened network activity, which includes a record 355 million transactions.
These new ETFs will differ from traditional crypto ETFs. They will support SOL staking, which could provide additional rewards while enhancing network security. TD Bank has indicated that staking yields for Solana may surpass those of Ethereum, making it an appealing option for investors.
Four companies have received approval to issue these ETFs. They are Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ. These ETFs will hold actual SOL tokens, rather than using synthetic exposure. Each ETF will track a different index, allowing investors various ways to engage with the Solana ecosystem.
