Staking-enabled Solana ETFs set to debut this week as Canada extends its lead in regulated crypto innovation
Canada Pioneers Yet Again in Crypto ETF Space
Canada is set to launch the world’s first spot Solana (SOL) exchange-traded funds (ETFs) that incorporate staking features, further solidifying its position as a global leader in regulated crypto investment products.
According to a circular cited by Bloomberg ETF analyst Eric Balchunas, four Canadian asset managers—Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ—have received approval from the Ontario Securities Commission (OSC) to list these groundbreaking products. The launch is expected this Wednesday.
Unlike traditional ETFs that merely track price movements, these Solana ETFs will hold physical SOL tokens and participate in staking—a blockchain-based process that generates passive income through network participation.
Each ETF will track a different index, but all will share the strategy of long-term token holding with staking rewards, which may offer higher yields than Ethereum staking and help reduce fund management fees.
Canada vs. the United States
The launch comes amid a widening regulatory gap between Canada and the United States. While Canada approved the world’s first spot Bitcoin ETF in 2021 and is now integrating staking into ETF structures, the U.S. Securities and Exchange Commission (SEC) remains cautious.
Despite approving spot Bitcoin ETFs in early 2024, the SEC has not yet allowed staking within any ETF products. It recently postponed a decision on whether to permit staking in Grayscale’s proposed spot Ethereum ETF, pushing the review period to June 1, 2025.
In contrast to Canada’s proactive approach, U.S.-listed Solana futures ETFs have shown underwhelming performance, with limited assets under management. Bloomberg’s Balchunas noted that even newer leveraged XRP ETFs have attracted more capital, highlighting the tepid reception of altcoin futures funds in the U.S.
Asset managers such as WisdomTree, Bitwise, 21Shares, Franklin Templeton, and Canary Capital have filed for altcoin spot ETFs in the U.S., but none have received approval to date.
Global Momentum Builds for Regulated Crypto Exposure
Canada’s move follows similar efforts in Hong Kong and Australia, where regulators have also introduced spot crypto ETFs. The global trend indicates growing institutional appetite for compliant access to digital assets, particularly with added income potential through staking.
Analysts suggest that staking-enabled ETFs could become a key feature of the next generation of crypto investment vehicles, offering both yield and exposure in a regulated wrapper.
With this bold move, Canada is charting new territory for crypto-backed ETFs. As regulators elsewhere watch closely, staking-integrated ETFs may soon become a global standard—and Canada is once again first out of the gate.