Canada is officially leading the next wave of crypto financial innovation with the launch of the world’s first spot Solana (SOL) exchange-traded funds featuring staking capabilities. Approved by the Ontario Securities Commission (OSC), the new ETFs will begin trading on April 16 on the Toronto Stock Exchange, marking a global milestone for regulated digital asset products.
Four asset managers—Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ—have received the green light to roll out these pioneering funds. Each ETF will directly hold Solana and actively participate in staking operations, allowing investors to earn passive income from Solana’s proof-of-stake protocol while gaining price exposure to the underlying asset.
The funds are expected to track different Solana indices and offer staking rewards that typically range from 5% to 7% annually. These rewards could be used to offset management fees or boost returns, creating a hybrid investment vehicle that blends yield generation with asset appreciation.
The development places Canada ahead of the U.S. and other major jurisdictions in integrating decentralized finance (DeFi) features into traditional financial products—an area where demand continues to surge among retail and institutional investors.
A Global ETF Race Accelerates as Canada Takes the Lead
Canada’s approval of staking-enabled Solana ETFs underscores a broader shift in how global regulators are approaching crypto investment products. The trend began in earnest when the U.S. SEC approved spot Bitcoin ETFs in January 2024, prompting a flurry of new applications tied to Ethereum, Solana, XRP, and other altcoins.
But while the U.S. has approved spot Bitcoin and Ethereum ETFs, it has not yet permitted staking functionality in any of them—despite mounting pressure from the industry and crypto-friendly policymakers, including President Donald Trump’s administration.
According to Bloomberg ETF analyst Eric Balchunas, the move by Canadian regulators puts pressure on U.S. counterparts, who are still deliberating over whether to allow staking in Grayscale’s proposed Ethereum ETF. A final decision is expected by June 1, 2025, though market watchers remain skeptical about near-term approval under the SEC’s current cautious approach.
In the U.S., two Solana futures-based ETFs are already live but have attracted minimal capital—highlighting investor preference for physically backed, yield-generating instruments, such as the spot products launching in Canada.
Canada’s Crypto ETF Ecosystem Keeps Expanding
The launch of Solana ETFs with staking adds to Canada’s long track record of crypto ETF innovation. The country approved its first spot Bitcoin ETF back in 2021, years ahead of the U.S., and has since maintained a relatively progressive stance on digital asset regulation.
Meanwhile, other jurisdictions are also moving quickly. Hong Kong and Australia have introduced their own spot crypto ETFs, and several other markets are now exploring regulated staking structures—further amplifying the race to define the future of regulated blockchain investing.
With staking-based Solana ETFs set to go live, Canada continues to position itself as a front-runner in bridging DeFi protocols with traditional finance, offering investors a new way to access both growth and passive income in the digital economy.
Quick Facts
- Launch Date: April 16, 2025 — the first-ever spot Solana ETFs with staking features.
- Approved Providers: Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ.
- Yield Potential: Staking rewards on Solana typically range from 5% to 7% annually.
- Global Context: The U.S. and EU have not yet approved staking-enabled ETFs, highlighting Canada’s leadership.
