$SOL

#CanadaSOLETFLaunch #CanadaSOLETFLaunch Canada has indeed become the first country to launch spot Solana ETFs, with four asset managers - Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ - set to list their products on the Toronto Stock Exchange (TSX). This move allows Canadian investors to gain direct exposure to Solana (SOL) without holding the tokens themselves, and the ETFs will feature staking functionality to generate passive income.

Key Features of the Solana ETFs:

- Staking Functionality: All four ETFs will allow staking of Solana tokens to earn rewards in the form of additional SOL tokens.

- Management Fees: Each ETF has a different management fee structure ¹ ² ³:

- 3iQ's SOLQ: 0% management fee for the first 12 months, then 0.15% thereafter.

- Evolve's SOLA: 0% management fee until the end of 2025, then 1.00% management fee.

- CI GAM's SOLX:: 0% management fee until July 16, then 0.35% management fee.

- Purpose's SOLL: 0.39% management fee.

- Trading: The ETFs will trade on the TSX, providing investors with a regulated and secure way to invest in Solana.

The launch of these ETFs in Canada comes ahead of potential approvals in the US, where firms like Grayscale, Fidelity, and VanEck are awaiting SEC approval for similar products. The Canadian move solidifies the country's leadership in the crypto ETF sector.