Canada Prepares to Launch World’s First Spot Solana ETFs with Staking Built In

Canada is once again taking the global lead in crypto innovation—this time with Solana.

Following its earlier rollouts of Bitcoin and Ethereum spot ETFs, the country is now ready to introduce the first-ever spot ETFs based on Solana (SOL), scheduled to hit the market on April 16, 2025. The timing couldn’t be more favorable, as SOL has seen a strong price surge of 25% over the past week.

The green light comes from the Ontario Securities Commission (OSC), which has approved a group of heavyweights in the ETF world—Purpose Investments, CI Global Asset Management, Evolve ETFs, and 3iQ. What makes these funds stand out is that they’re not just tracking Solana’s price movements. They will hold actual SOL tokens, giving investors direct exposure to the asset.

But that’s not all—these Solana ETFs come with a twist that sets them apart from earlier crypto ETFs: staking. According to Bloomberg ETF analyst Eric Balchunas, the funds will integrate staking mechanisms with support from TD Bank. This means that the Solana held in the ETFs will participate in securing the network, generating rewards that can be passed back to investors. With Solana offering higher staking yields than Ethereum, the potential for improved returns is significant.

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Each ETF will follow a different Solana-based index, offering varying strategies for exposure to the asset. While their structures may differ, all are designed with long-term holding in mind, underscoring the issuers’ confidence in Solana’s role in the future of decentralized finance.

By adding staking to the mix, these ETFs offer more than just passive investment—they create a yield-generating product, giving investors a new way to earn in the crypto space while maintaining regulatory oversight and institutional-grade custody. Canada’s move not only gives local investors broader crypto options, but it could also set a precedent for how other countries approach spot altcoin ETFs in the future.

Alexander Stefanov