Canada launches Solana ETFs with staking and high yields

Canada is set to introduce the world’s first spot Solana (CRYPTO:SOL) exchange-traded funds (ETFs) with staking capabilities on April 16, 2025.

Four asset managers, Purpose, Evolve, CI, and 3iQ, have been given permission by the Ontario Securities Commission (OSC) to list these cutting-edge financial products on the Toronto Stock Exchange, according to Bloomberg analyst Eric Balchunas.

The ETFs will hold Solana in physical form and engage in staking activities, potentially offering higher yields than traditional Ethereum (CRYPTO:ETH) staking.

A circular from Toronto-Dominion Bank highlighted that these funds aim to reduce overall holding costs while providing diversified exposure to the Solana ecosystem.

“This marks the first time crypto-native assets like Solana are directly connected to the trillion-dollar reinsurance market,” Balchunas noted.

The move reflects growing institutional interest in alternative digital assets as global demand for spot crypto ETFs accelerates.

Staking-enabled ETFs are seen as a significant evolution in crypto investment products.

By participating in staking, these funds allow investors to earn rewards while supporting blockchain operations.

This development could provide yields that surpass those of existing decentralised finance (DeFi) options.

The launch comes amid a broader wave of regulatory approvals for spot crypto ETFs worldwide.

While Canada has taken a proactive approach, U.S. regulators remain cautious about approving similar products.

For example, the U.S. Securities and Exchange Commission (SEC) recently delayed its decision on including staking in Ethereum ETFs, citing the need for further analysis.

Despite this hesitation in the U.S., Canadian regulators have embraced staking as a feature of next-generation ETFs.

The OSC’s approval highlights Canada’s role as a frontrunner in regulated crypto investments.

Balchunas also pointed out that while two Solana futures-based ETFs in the U.S. have struggled to attract assets under management, Canada’s spot ETFs could offer a more compelling alternative for investors seeking exposure to Solana’s ecosystem.

At the time of reporting, the Solana (SOL) price was $131.57.