OSC greenlights Solana ETF listings from four issuers
Canada is preparing to launch the world’s first spot Solana ETFs with built-in staking functionality, according to a Toronto-Dominion Bank circular shared by Bloomberg ETF analyst Eric Balchunas. The Ontario Securities Commission (OSC) approved four providers — Purpose, CI, Evolve, and 3iQ — to list their Solana products this week.
These ETFs will invest in physically backed SOL and offer staking rewards, potentially yielding more than Ether-based ETFs. This not only provides exposure to Solana’s price performance but also adds yield through Solana’s proof-of-stake consensus.
Canada leads global ETF innovation
The move cements Canada’s leadership in crypto ETF regulation. The country approved the first spot Bitcoin ETF back in February 2021 and was among the first to allow staking inside regulated ETFs.
In contrast, the U.S. Securities and Exchange Commission has yet to approve staking in ETFs. It recently delayed a decision on Grayscale’s Ethereum ETF staking proposal to June 2025. Bloomberg’s James Seyffart projects U.S. staking approval may not come until late 2025.
Altcoin ETF momentum building
The launch of Solana ETFs comes as other global markets race to offer institutional crypto exposure. Hong Kong and Australia have also greenlit spot crypto ETFs, while U.S. issuers await decisions on XRP and Solana-based products.
Balchunas noted that two U.S.-based Solana futures ETFs currently have limited assets, but said Canada’s staking model may attract more institutional demand. Solana is currently trading at $129.97, down 2.2% on the day.
