Canadian investors can now trade spot Solana (SOL) ETFs on the Toronto Stock Exchange as of Wednesday, April 16, 2025. The Ontario Securities Commission (OSC) approved the funds, paving the way for four asset managers—Purpose, Evolve, CI, and 3iQ—to offer these ETFs. These ETFs will also feature staking capabilities, potentially leading to higher yields.
This move positions Canada ahead of the U.S. in offering direct exposure to Solana through ETFs. In contrast, U.S. issuers like Grayscale and Fidelity are awaiting SEC approval for similar funds. Currently, the U.S. market has SOL futures ETFs, but they have relatively small assets under management. Canada was also the first country to launch spot Bitcoin and spot Ether ETFs in 2021.
The launch of spot Solana ETFs in Canada marks a significant step forward in cryptocurrency investment, providing a regulated and accessible way for investors to gain exposure to SOL. Some firms are even waiving management fees for a limited time, making these ETFs an attractive option for those looking to capitalize on the growth potential of the Solana ecosystem.