Canada is set to make ETF history on April 16 with the launch of the world’s first spot Solana exchange-traded funds.
The Ontario Securities Commission (OSC) has officially greenlit products from Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ. These ETFs will offer direct exposure to physical SOL tokens and incorporate staking to boost investor returns.
Each ETF will track a different Solana-linked index, providing a diversified range of strategies while maintaining on-chain exposure. This move follows Canada’s early embrace of spot Bitcoin and Ethereum ETFs.
Canada is readying spot Solana ETFs to launch this week after regulator gave green light to multiple issuers incl Purpose, Evolve, CI and 3iQ. ETFs will include staking via TD pic.twitter.com/FSw149Xkm4
— Eric Balchunas (@EricBalchunas) April 14, 2025
Solana Staking: The Key Differentiator
What sets these ETFs apart is the inclusion of staking rewards. With Solana’s staking yields historically higher than Ethereum’s, these ETFs promise not only direct price exposure but also passive income for holders. Management fees and operating costs may be offset through staking returns, providing a more cost-efficient investment vehicle.
According to Bloomberg’s Eric Balchunas, TD Bank is referenced in the documentation but is not acting as a custodian or staking facilitator. The details of the staking mechanism remain under wraps, but its inclusion points to growing regulatory comfort with hybrid DeFi-traditional structures.
Note: via TD bank means they sent info out. Not that they are facilitating the staking. FYI!
— Eric Balchunas (@EricBalchunas) April 14, 2025
Solana has surged 23% in the past week ahead of the ETF debut, trading in the $130–$134 range. A breakout above $138 could see the price push toward $150 and beyond. Whale activity is also spiking, with recent transfers of over $100 million in SOL suggesting institutional positioning ahead of the ETF launch.
For anyone interested in Solana price analysis, you can find our dedicated article here.
In contrast, Solana ETFs in the U.S. remain limited to futures-based products that have seen weak adoption. This Canadian launch may pressure U.S. regulators to reevaluate their stance as demand for direct, yield-generating altcoin exposure grows.
Multiple issuers, including Grayscale, 21Shares, Bitwise, VanEck, and Franklin Templeton, have filed for U.S.-based Solana ETFs. Polymarket traders now assign an 83% probability to an approval by the end of 2025. That is up from 65% earlier this year.
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