📰 [NEWS] Canada to Launch First Spot Solana ETFs With Staking Feature
Canada is set to introduce the world's first spot Solana (SOL) ETFs on April 16, 2025, offering investors a regulated way to gain SOL exposure with the added benefit of staking rewards directly through TD.
Important details:
• Multiple issuers including Purpose, Evolve, CI, and 3iQ received regulatory approval to launch spot SOL ETFs in Canada, with all expected to begin trading simultaneously
• The ETFs will offer staking capabilities through TD with current SOL staking rewards at approximately 8% annually – nearly triple the staking yield available for Ethereum
• Bloomberg ETF analyst Eric Balchunas notes these spot SOL products may face challenges, as the 2x XRP ETF in the US has attracted more assets under management than both US SOL futures ETFs combined
Potential impacts:
👉 SOL price shows modest spot buying pressure following the ETF news, with the token currently trading above its 2024 support level of $120 and potentially targeting the $140-$160 range if support holds
👉 The Canadian ETF launches may pave the way for spot SOL ETFs in the US, with Grayscale and other firms having filed applications that face SEC decisions between May and October 2025
