Canada Approves World’s First Solana ETFs with Staking Option
Date: 2025-04-16 Author: Gabriel Deangelo Categories: IN WORLD
On April 16, Canada will begin trading the world’s first spot Solana ETFs, which will also include staking options. This was reported by Bloomberg analyst Eric Balchunas, citing a message from TD Bank, which states that the Ontario Securities Commission has approved the launch of four new funds.
We are talking about products from Purpose, Evolve, CI, and 3iQ - all of which have received approval from the regulator and are ready to enter the market. The main feature of the new ETFs will be the ability to stake Solana tokens, which potentially makes them more profitable for investors compared to similar products based on Ethereum. According to a statement from TD Bank, this feature can increase returns and reduce the total cost of ownership of assets.
Eric Balchunas also recalled that in the US, futures funds based on Solana from Volatility Shares were already launched in March. However, they did not generate much interest - the volumes of assets in them remain quite modest: one of the funds manages $ 5.1 million, and the other - $ 8.7 million, according to the tracker The Block.
Earlier, on February 7, the US Securities and Exchange Commission (SEC) accepted for consideration the NYSE Arca application on Form 19b-4. The purpose of this document is to change the rules that will allow the placement of the spot Solana-ETF from Grayscale Investments on the exchange. In addition, similar proposals from 21Shares, Bitwise, Canary and VanEck are in the regulatory process.
Thus, Canada is ahead of the US in the matter of launching a full-fledged spot Solana-ETF, with an additional opportunity for investors to receive income from participating in staking. This may set a new standard for cryptocurrency exchange products on a global scale.
