#CanadaSOLETFLaunch

💫On April 16, 2025, Canada became the first country to launch spot exchange-traded funds (ETFs) on Solana (SOL).

The Ontario Securities Commission (OSC) approved applications from four management companies — Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ — to launch ETFs that will invest directly in SOL and include staking for additional income. These funds started trading on the Toronto Stock Exchange, marking an important step for the crypto market.

💫A feature of the new ETFs is the ability to stake SOL, which can provide investors with an annual return of 5% to 8%. This makes them attractive for those seeking passive income while supporting the Solana network. According to Bloomberg, Solana has increased by 25% over the past week, reaching $143, indicating growing investor interest.

💫Canada is not new to outpacing the U.S. in crypto innovations: the first spot ETFs on Bitcoin and Ethereum appeared here in 2021. In contrast, similar products on SOL have yet to be approved by the SEC in the U.S., although applications from Grayscale, VanEck, and others are under review. The launch of Canadian ETFs may push for the global legalization of crypto funds, strengthening Solana's position in the market.