Canada to Launch Spot Solana ETFs on Toronto Stock Exchange
Canada is set to launch spot Solana ETFs on the Toronto Stock Exchange, with products from Purpose Investments, Evolve, 3iQ, and CI Global Asset Management debuting on Wednesday.
Key points:
- Canada previously launched the world’s first Bitcoin ETF in February 2021.
- Canadian regulators approved spot Ether ETFs shortly after Bitcoin funds.
- The SEC in the US has yet to approve similar products until 2024.
- Evolve plans to stake up to half of its Solana portfolio, offering a 0% management fee through 2025.
- Purpose's staking will utilize in-house validator infrastructure.
- CI's fund will involve Galaxy Asset Management for staking arrangements.
- 3iQ confirmed the anticipated launch but provided no additional comments.
This marks another advancement for Canadian crypto assets in established financial vehicles.