Canada’s Solana ETFs May Face Low Demand Before US Versions Launch
Spot Solana ETFs have launched on the Toronto Stock Exchange, but initial demand is expected to be low. Key points include:
- Current assets in Canadian spot ether ETFs are around $500 million, approximately 10% of total Canadian crypto ETF assets.
- Spot Solana (SOL) is anticipated to attract less interest than ether, as its market cap is significantly smaller at $65 billion compared to ether's $190 billion.
- US investors may delay seeking Solana exposure until US-listed ETFs become available.
- Volatility Shares’ two US Solana futures ETFs have only $15 million in assets under management after nearly a month.
- Analysts expect potential SEC approval for US spot Solana ETFs and ETH staking proposals by the end of the year, with final deadlines set for October 2025.
- Canada has historically led in launching crypto ETFs, with its first bitcoin and ether ETFs debuting years before those in the US.
Market analysts indicate that while Solana ETFs may grow over time, substantial demand is not projected in the near term.