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Market

Canada To Launch World’s First Spot Solana ETFs

Canada will debut the world’s first spot Solana (SOL) ETFs on April 16th, following a 25% rise in SOL’s price over the past week.

Haider Jamal
April 15, 2025

355M Transactions

These ETFs, backed by TD Bank, feature a unique staking mechanism that lets investors earn extra tokens while supporting network security, potentially offering higher returns than Ethereum staking.

Source: X (@EricBalchunas)

According to Santiment and Nansen, Solana is seeing a spike in online activity and hit a record 355 million transactions last week, the most of any blockchain worldwide including competitors like Ethereum (ETH) and Cardano (ADA).

No Synthetic ETFs

Approved by the Ontario Securities Commission, Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ will issue the funds. Unlike synthetic ETFs, these will hold actual SOL tokens.

Each ETF will also reportedly track a different index, giving investors varied exposure to the Solana ecosystem and signaling rising trust in physical crypto assets.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.