Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Canada Launches First Spot Solana ETFs With Staking
Crypto Launch | April 17, 2025
AI Image: Spot Solana ETFs with Staking Launch on TSX
TSX Lists First Solana Staking ETFs in North America
Canada’s financial regulators have done it again. Credit to Bloomberg ETF analyst Eric Balchunas, who first flagged that the Ontario Securities Commission (OSC) gave the green light on April 14 for 3iQ, Evolve, CI Global Asset Management, and Purpose Investments to list the first spot Solana exchange-traded funds (ETFs) products in North America on April 16, 2025.
The new funds started trading on the Toronto Stock Exchange (TSX), offering direct ownership of Solana (SOL), including the potential to earn staking rewards. Meanwhile, U.S. investors are still limited to Solana futures ETFs while Canadian's have access to the real thing, that is spot SOL with staking which allows investors to earn additional SOL by offering them in a staking pool to help secure the network by validating blockchain transactions.
See: Crypto ETF Battle Intensifies with XRP Dogecoin and Solana
Solana is of one of the world's largest blockchains with a market cap of $69.4 billion at the time of writing. It's fast, low cost platform that powers everything from decentralized finance to NFTs, games, and even meme coins like $TRUMP. Sometimes referred to as the Ethereum killer because of its high transaction speed and low fees. SOL is the native token used to pay for network activity and also powers staking.
What Makes These ETFs Unique?
All four new ETFs actually hold SOL tokens, not futures contracts, so they are tied directly to the market price of Solana. As mentioned above, they also allow participation in staking, a key feature of Solana's proof-of-stake design.
See: Stablecoin Payments Have Wings – Are You Ready?
By staking the fund’s holdings, investors can potentially increase the amount of SOL they own over time. Staking rewards vary and are subject to blockchain conditions but typical yields for staking SOL have ranged from 6% to 8% annually. By comparison, Wealthsimple supports direct crypto investments including SOL, which currently offers a staking yield of 4.1%.
Canadian Spot Solana ETFs Comparison
| ETF Name | TSX Ticker(s) | Management Fee | Staking Notes |
| Evolve Solana ETF | SOLA (CAD), SOLA.U (USD) | 0% in 2025, 1.00% after Jan 1, 2026 | Up to 50% SOL staked. Provider not disclosed. |
| 3iQ Solana Staking ETF | SOLQ | 0% for 12+ months, then 0.15% | Uses Figment as staking provider. Staking reward split not publicly disclosed. |
| CI Galaxy Solana ETF | SOLX | 0% until July 16, then 0.35% | CI GAM receives up to 35% of staking rewards. 65% accrue to fund. Staking provider not disclosed. |
| Purpose Solana ETF | SOLL (CAD Hedged), SOLL.B (CAD), SOLL.U (USD) | 0.39% | Uses in-house validator. Staking amount and reward split not disclosed. |
Why It Matters
Canada was first to approve spot Bitcoin and spot Ethereum ETFs in 2021, and now it’s proving it's leadership again in regulated crypto innovation by approving the first spot Solana ETFs in North America (NB: first spot Solana ETF globally launched in Brazil).
See: eToro Files Nasdaq IPO After Crypto Revenue Surge
According to Investment Executive, the launch of the funds have attracted interest from firms as far as Taiwan, showing global interest in these Canadian listed crypto products. We anticipate U.S. approvals to come eventually but for now, Canadian funds have a first mover advantage, especially with staking built in.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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