Source: The Block
Bloomberg's senior ETF analyst Eric Balchunas shared news that four asset management companies will launch a spot Solana ETF in Canada, scheduled for Wednesday.
The upcoming Solana ETFs will offer staking features.
According to a bank notice cited by Bloomberg's senior ETF analyst Eric Balchunas, several spot Solana exchange-traded funds are set to launch in Canada. Balchunas shared a screenshot of a notice from TD Bank in Canada on X, stating that the Ontario Securities Commission has approved the 'world's first' spot Solana ETF issued by Purpose, Evolve, CI, and 3iQ. These ETFs are expected to be listed on April 16.
The notice states that the upcoming ETFs will offer staking features to earn rewards, 'which may provide higher yields than Ethereum staking and reduce the overall holding costs of the ETF.'
(The Block) has contacted the Ontario Securities Commission, TD Bank, and these four asset management companies for further comments.
Meanwhile, major asset management companies in the U.S. are racing to submit spot Solana ETF applications. According to (The Block)'s Solana ETF tracker, Grayscale, Bitwise, 21Shares, Canary, and VanEck are all seeking to launch such products.
In March, Volatility Shares launched two Solana futures ETFs in the U.S. The Volatility Shares Solana ETF provides exposure to Solana futures contracts, currently managing about $5.1 million in assets, while the Volatility Shares 2X Solana ETF has about $8.7 million in assets under management.
Balchunas stated: 'By the way, these two Solana ETFs in the U.S. (tracking futures, so not perfect experimental subjects) have performed poorly, with very little assets under management. The asset management scale of 2x XRP has already surpassed these two Solana ETFs, and it was launched later. While we shouldn't read too much into this, it is the first time we've observed competition among alternative tokens.'
