#CanadaSOLETFLaunch Canada has launched the world's first spot Solana ETFs, approved by the Ontario Securities Commission. Four asset managers - Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ - will list and trade these ETFs on Canadian exchanges. Here's what's notable about this launch.

- *Staking Mechanism*: These ETFs hold actual SOL tokens and include staking mechanisms, enabling investors to earn passive yields while maintaining liquidity. Staking rewards on Solana range from 5% to 7% annually, higher than Ethereum-based funds.

- *Direct Exposure*: The ETFs provide direct, regulated exposure to Solana, marking a significant evolution in crypto asset management.

- *Diverse Strategies*: Each ETF tracks a unique Solana-related index, offering diverse strategies while maintaining direct token backing.

*Impact and Comparison*

- *Institutional Interest*: The launch could spur institutional interest in Solana, although demand may be tepid.

- *US Comparison*: The US Securities and Exchange Commission remains hesitant, with no spot altcoin ETFs approved yet. US-based asset managers like Grayscale, VanEck, and Franklin Templeton await decisions on their applications.

- *Global ETF Race*: Hong Kong and Australia have launched their own crypto ETFs, and the global ETF race is heating up with applications pending regulators.

*Solana's Performance*

- *Price Strength*: Solana has shown technical strength, gaining over 30% last week and trading at $133. The SOL/ETH pair has rallied over 45% since February.