Canada to Launch the World's First Spot ETF on Solana

Canada is set to become the first country to launch a spot ETF on Solana, as the Ontario Securities Commission approved applications from Purpose, Evolve, CI Global Asset Management, and 3iQ Corp. These ETFs are scheduled to hit the market on April 16, 2025, allowing investors to gain exposure to Solana and potentially earn staking rewards.

This move differentiates spot ETFs, which hold actual Solana, from futures-based ETFs, such as those recently launched by Volatility Shares. Incorporating staking features into Canadian ETFs could attract both institutional and retail investors, thereby setting new standards for digital asset investment products on a global scale. Several asset managers, including Bitwise and Fidelity, have also filed applications for spot ETFs on Solana in the U.S., indicating a growing interest from traditional finance in Solana.