04-14-2025, 11:55 PM
Spot Solana ETFs to launch in Canada this week
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjM1NWQtN2I4NC03MDc2LThhMzUtYTQ0ZWZhZDYzNzhk.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjM1NWQtN2I4NC03MDc2LThhMzUtYTQ0ZWZhZDYzNzhk.jpg" alt="Spot Solana ETFs to launch in Canada this week"></p><p class="post-content__disclaimer" type="">Update (April 14 at 9:12 pm UTC): This article has been updated to include a comment from the Ontario Securities Commission. <p>Spot Solana exchange-traded funds (ETFs) are set to launch in Canada on April 16, according to Bloomberg analyst Eric Balchunas. </p><p>In an X post on April 14, the analyst <a data-ct-non-breakable="null" href="https://x.com/EricBalchunas/status/1911792784102617321" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/EricBalchunas/status/1911792784102617321">shared</a> a private client note from TD Bank, a Canadian financial institution, claiming the Ontario Securities Commission (OSC) greenlighted asset managers Purpose, Evolve, CI and 3iQ to issue ETFs holding Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null" title="https://cointelegraph.com/solana-price-index">SOL</a>). </p><p>Canada does not have a federal securities agency, with its territories and provinces applying their own securities laws. Toronto’s securities exchange is regulated by Ontario’s OSC. </p><p>The ETFs are permitted to stake a portion of the SOL holdings for added yield, Balchunas said, adding that the upcoming listings are “our first look at the alt coin race.” </p><p>In a statement to Cointelegraph, the OSC said the approval and oversight of SOL ETFs are in accordance with a January <a data-ct-non-breakable="null" href="https://www.osc.ca/sites/default/files/2024-01/csa_20240118_81-102_rfc_crypto-assets.pdf" rel="nofollow noopener" target="_blank" text="null" title="https://www.osc.ca/sites/default/files/2024-01/csa_20240118_81-102_rfc_crypto-assets.pdf">notice</a> outlining amending rules for publicly traded funds holding cryptocurrencies. </p><figure><img alt="Spot Solana ETFs to launch in Canada this week" src="https://s3.cointelegraph.com/uploads/2025-04/01963561-1deb-744e-a109-e55c5ded5512" title=""><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/EricBalchunas/status/1911792784102617321" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/EricBalchunas/status/1911792784102617321"><em>Eric Balchunas</em></a></p></figcaption></figure><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-approves-options-spot-ether-etfs" rel="null" target="null" text="null" title="null"><em><strong>SEC approves options on spot Ether ETFs</strong></em></a></p><h2>Waiting on US approval</h2><p>The US Securities and Exchange Commission (SEC) has <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-crypto-etf-filings-reviews-approvals-accelerate" rel="null" target="null" text="null" title="null">acknowledged dozens of applications to list ETFs</a> holding alternative cryptocurrencies, or “altcoins,” but so far has only approved funds holding spot Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) and Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="" target="_self" text="null" title="https://cointelegraph.com/ethereum-price">ETH</a>) for trading. </p><p>Staking is still off limits for US crypto ETFs. Bloomberg analyst James Seyffart said Ether ETFs could be greenlighted to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-etf-staking-may-bloomberg-analyst" rel="null" target="null" text="null" title="null">start staking as soon as May</a>, but the process may take months longer. </p><p>However, investors’ demand for altcoin ETFs may be weaker than for funds holding core cryptocurrencies, Katalin Tischhauser, crypto bank Sygnum’s research head, told Cointelegraph in August.</p><p>“[T]here is all this frothy excitement in the market about these ETFs coming, and no one can point to where substantial demand is going to come from,” Tischhauser told Cointelegraph. </p><figure><img alt="Spot Solana ETFs to launch in Canada this week" src="https://s3.cointelegraph.com/uploads/2025-04/01963562-94af-7ad6-a691-5bbfa1bb47aa" title=""><figcaption style="text-align: center;"><p><em>Volatility Shares’ SOL futures ETF has roughly $5 million in net assets. Source: </em><a data-ct-non-breakable="null" href="https://www.volatilityshares.com/solz" rel="nofollow noopener" target="_blank" text="null" title="https://www.volatilityshares.com/solz"><em>Volatility Shares</em></a></p></figcaption></figure><p>In March, asset manager Volatility Shares <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/volatility-shares-launch-solana-futures-etfs-march-20" rel="null" target="null" text="null" title="null">launched the first ETFs to track Solana’s performance </a>using financial derivatives. </p><p>Volatility Shares Solana ETF (SOLZ) has seen a lukewarm reception, attracting only around $5 million in net assets as of April 14, according to its website. </p><p>“FWIW, the 2 solana ETFs in US (which track futures so not a perfect guinea pig) haven't done much. Very little in aum. The 2x XRP already has more aum than both the solana ETFs and it came out after,” Balchunas said. </p><p>Balchunas added that he “[w]ouldn't read a ton into it” as a predictor for spot SOL ETFs. </p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-100k-price-target-shaquille-oneal-nft-synthetix-hodlers-digest/" rel="null" target="null" text="null" title="https://cointelegraph.com/magazine/bitcoin-100k-price-target-shaquille-oneal-nft-synthetix-hodlers-digest/"><em><strong>Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6–12</strong></em></a></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template><p><br></p></p>
</p>
https://cointelegraph.com/news/spot-sola...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjM1NWQtN2I4NC03MDc2LThhMzUtYTQ0ZWZhZDYzNzhk.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjM1NWQtN2I4NC03MDc2LThhMzUtYTQ0ZWZhZDYzNzhk.jpg" alt="Spot Solana ETFs to launch in Canada this week"></p><p class="post-content__disclaimer" type="">Update (April 14 at 9:12 pm UTC): This article has been updated to include a comment from the Ontario Securities Commission. <p>Spot Solana exchange-traded funds (ETFs) are set to launch in Canada on April 16, according to Bloomberg analyst Eric Balchunas. </p><p>In an X post on April 14, the analyst <a data-ct-non-breakable="null" href="https://x.com/EricBalchunas/status/1911792784102617321" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/EricBalchunas/status/1911792784102617321">shared</a> a private client note from TD Bank, a Canadian financial institution, claiming the Ontario Securities Commission (OSC) greenlighted asset managers Purpose, Evolve, CI and 3iQ to issue ETFs holding Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null" title="https://cointelegraph.com/solana-price-index">SOL</a>). </p><p>Canada does not have a federal securities agency, with its territories and provinces applying their own securities laws. Toronto’s securities exchange is regulated by Ontario’s OSC. </p><p>The ETFs are permitted to stake a portion of the SOL holdings for added yield, Balchunas said, adding that the upcoming listings are “our first look at the alt coin race.” </p><p>In a statement to Cointelegraph, the OSC said the approval and oversight of SOL ETFs are in accordance with a January <a data-ct-non-breakable="null" href="https://www.osc.ca/sites/default/files/2024-01/csa_20240118_81-102_rfc_crypto-assets.pdf" rel="nofollow noopener" target="_blank" text="null" title="https://www.osc.ca/sites/default/files/2024-01/csa_20240118_81-102_rfc_crypto-assets.pdf">notice</a> outlining amending rules for publicly traded funds holding cryptocurrencies. </p><figure><img alt="Spot Solana ETFs to launch in Canada this week" src="https://s3.cointelegraph.com/uploads/2025-04/01963561-1deb-744e-a109-e55c5ded5512" title=""><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/EricBalchunas/status/1911792784102617321" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/EricBalchunas/status/1911792784102617321"><em>Eric Balchunas</em></a></p></figcaption></figure><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-approves-options-spot-ether-etfs" rel="null" target="null" text="null" title="null"><em><strong>SEC approves options on spot Ether ETFs</strong></em></a></p><h2>Waiting on US approval</h2><p>The US Securities and Exchange Commission (SEC) has <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-crypto-etf-filings-reviews-approvals-accelerate" rel="null" target="null" text="null" title="null">acknowledged dozens of applications to list ETFs</a> holding alternative cryptocurrencies, or “altcoins,” but so far has only approved funds holding spot Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) and Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="" target="_self" text="null" title="https://cointelegraph.com/ethereum-price">ETH</a>) for trading. </p><p>Staking is still off limits for US crypto ETFs. Bloomberg analyst James Seyffart said Ether ETFs could be greenlighted to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-etf-staking-may-bloomberg-analyst" rel="null" target="null" text="null" title="null">start staking as soon as May</a>, but the process may take months longer. </p><p>However, investors’ demand for altcoin ETFs may be weaker than for funds holding core cryptocurrencies, Katalin Tischhauser, crypto bank Sygnum’s research head, told Cointelegraph in August.</p><p>“[T]here is all this frothy excitement in the market about these ETFs coming, and no one can point to where substantial demand is going to come from,” Tischhauser told Cointelegraph. </p><figure><img alt="Spot Solana ETFs to launch in Canada this week" src="https://s3.cointelegraph.com/uploads/2025-04/01963562-94af-7ad6-a691-5bbfa1bb47aa" title=""><figcaption style="text-align: center;"><p><em>Volatility Shares’ SOL futures ETF has roughly $5 million in net assets. Source: </em><a data-ct-non-breakable="null" href="https://www.volatilityshares.com/solz" rel="nofollow noopener" target="_blank" text="null" title="https://www.volatilityshares.com/solz"><em>Volatility Shares</em></a></p></figcaption></figure><p>In March, asset manager Volatility Shares <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/volatility-shares-launch-solana-futures-etfs-march-20" rel="null" target="null" text="null" title="null">launched the first ETFs to track Solana’s performance </a>using financial derivatives. </p><p>Volatility Shares Solana ETF (SOLZ) has seen a lukewarm reception, attracting only around $5 million in net assets as of April 14, according to its website. </p><p>“FWIW, the 2 solana ETFs in US (which track futures so not a perfect guinea pig) haven't done much. Very little in aum. The 2x XRP already has more aum than both the solana ETFs and it came out after,” Balchunas said. </p><p>Balchunas added that he “[w]ouldn't read a ton into it” as a predictor for spot SOL ETFs. </p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-100k-price-target-shaquille-oneal-nft-synthetix-hodlers-digest/" rel="null" target="null" text="null" title="https://cointelegraph.com/magazine/bitcoin-100k-price-target-shaquille-oneal-nft-synthetix-hodlers-digest/"><em><strong>Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6–12</strong></em></a></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template><p><br></p></p>
</p>
https://cointelegraph.com/news/spot-sola...er_inbound