Canada to Launch First Spot Solana ETFs on April 16, 2025
Canada will launch the first spot Solana (SOL) ETFs on April 16, 2025, following approval from the Ontario Securities Commission. This decision comes after a 25% price increase for Solana in the past week and record network activity of 355 million transactions.
The ETFs will support SOL staking, allowing investors to earn additional rewards while enhancing network security. TD Bank indicated that staking yields for Solana may exceed those of Ethereum.
Four issuers—Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ—are approved to launch these ETFs, which will hold actual SOL tokens instead of synthetic exposure. Each ETF will track a different index, providing various exposure options to the Solana ecosystem.
In the U.S., spot Solana ETFs are still under review by the SEC, with a decision on VanEck’s application expected by May 19, 2025.