Spot Solana ETFs Debuting in Canadian Market This Week

Canada to Launch First Spot Solana ETFs as U.S. Waits for SEC Approval

In a move ahead of the U.S., Canadian investors will soon be able to directly trade spot Solana (SOL) ETFs on the Toronto Stock Exchange starting this Wednesday. Four asset managers—Purpose, Evolve, CI, and 3iQ—will be listing their funds, all of which come with staking features, according to a note from TD Cowen shared by ETF analyst Eric Balchunas.

The Ontario Securities Commission (OSC) granted approval for these funds earlier this week, making Canada the first market to offer Solana spot ETFs.

While Canadian investors gain access, U.S. issuers such as Grayscale, Franklin Templeton, 21Shares, Bitwise, VanEck, and Fidelity are still awaiting the SEC’s decision on their spot Solana ETF filings.

In the U.S., Solana futures ETFs like the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT) are already trading, but their total assets under management remain relatively small—around $5 million and $10 million, respectively.

In contrast, spot crypto ETFs have surged in popularity, with Bitcoin ETFs leading the charge and drawing billions in assets. The spot ETFs have proven to be one of the most successful launches in the history of financial products.

With Consensus 2025 taking place in Toronto next month, the Canadian Solana ETFs are positioning themselves to tap into the growing interest in cryptocurrency investments from both retail and institutional investors.