Canada to Launch World's First Spot Solana ETFs This Week

Canada is set to launch the world's first spot Solana ETFs this week, ahead of the United States. The Ontario Securities Commission has approved several issuers, including Purpose, Evolve, CI, and 3iQ, to trade these ETFs, as reported by Bloomberg on April 16. These ETFs will offer direct spot exposure to Solana, the sixth-largest cryptocurrency with a market cap of $68.2 billion. Purpose Investments will launch its Solana ETF on the Toronto Stock Exchange, offering staking rewards. This move could influence similar spot Solana ETF filings awaiting SEC approval in the U.S.