Canada is on the verge of making history in cryptocurrency by becoming the first country to approve and launch spot Solana Exchange-Traded Funds (ETFs). A screenshot of a bank circular shared by Bloomberg Senior ETF Analyst Eric Balchunas on X shows that these ETFs are set to launch on April 16, 2025. This will allow investors to invest in Solana while also earning staking rewards. Canada Spot Solana ETFs Launch Comes With Staking Features The circular revealed that the Ontario Securities Commission (OSC) has approved the world’s first spot Solana ETFs. Four major asset management firms, Purpose, Evolve, CI Global Asset Management, and 3iQ Corp, will offer these financial products. Solana ETF investors can earn passive income by participating in the Solana network’s staking mechanism. This feature allows them to receive rewards for helping to secure the network, combining traditional ETF structures with a key benefit of blockchain technology. With Solana becoming popular for its fast transactions and low fees, these new ETFs will likely attract institutional and retail investors. Meanwhile, adding staking options to these ETFs could set a new standard for digital asset products worldwide. Top Asset Managers Awaits Solana ETF Approval Some asset managers have applied for Spot Solana ETFs. In no particular order, Bitwise, VanEck, 21Shares, and Canary Capital have filed their spot Solana ETF S-1 registration with the US Securities and Exchange Commission (SEC). More proactively, Cboe BZX Exchange has filed four 19b-4 proposals on their behalf. Likewise, Fidelity joined the Solana ETF race with its new S-1 filing in March. Before 2024 ended, Grayscale also submitted its application to convert its existing Grayscale Solana Trust into a spot Solana ETF. These applications put Solana in the spotlight as more traditional finance firms intend to enter the altcoin space. Volatility Shares Launch the First Solana Futures ETFs Last month, Volatility Shares, a growing investment firm, launched the first ETF tied to the futures price of Solana . This launch comes at a time when interest in crypto ETFs is growing. One of the funds is Volatility Shares Solana ETF (SOLZ), which is poised to expose investors to Solana futures contracts. The other, Volatility Shares 2X Solana (SOLT), is designed to offer double the daily returns of Solana’s price movements. Unlike spot ETFs, which hold the actual asset directly, Volatility Shares’ new funds are futures-based . They track Solana’s price through futures contracts instead of holding Solana tokens directly. The post Canada Set to Launch World’s First Spot Solana ETFs Soon appeared first on TheCoinrise.com .
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