Canada to Launch First Spot Solana ETFs with Staking Feature

On April 16, Canadian companies will introduce the world’s first spot Solana ETFs to the market, according to Bloomberg analyst Eric Balchunas.

FWIW, the 2 solana ETFs in US (which track futures so not a perfect ginnea pig) hhaven’t done much. Very little in aum. The 2x XRP already has more aum than both the solana ETFs and it came out after. Wouldn’t read a ton into it, but it’s our first look at the alt coin race

— Eric Balchunas (@EricBalchunas) April 14, 2025

The expert shared a screenshot of a TD Bank message stating that the Ontario Securities Commission has approved four products from Purpose, Evolve, CI, and 3iQ.

The funds will offer a Solana staking feature, potentially providing higher yields compared to similar Ethereum-based products and reducing the costs of owning an ETF, according to a TD Bank statement.

Balchunas noted that in March, Volatility Shares had already launched two futures-based SOL ETFs in the US, which “haven’t done much.” The assets under management remain small: approximately $5.1 million in one fund and $8.7 million in another, according to The Block tracker.

Back in February 7, the SEC accepted an NYSE Arca application via form 19b-4 to amend rules that would allow the listing of a spot exchange-traded fund based on Solana ETFs from Grayscale Investments.

The regulator is also considering proposals from 21Shares, Bitwise, Canary, and VanEck.