Canada Greenlights Launch of Solana Exchange-Traded Fund

In a significant development for digital asset investors, Canadian regulators have approved the launch of a Solana-based Exchange-Traded Fund (ETF). This marks a pivotal moment for institutional and retail adoption of Solana (SOL) as the cryptocurrency continues to gain mainstream traction. The ETF will provide investors with regulated exposure to SOL’s price movements without requiring direct custody of the underlying asset. Industry analysts view this as a bullish signal for Solana’s ecosystem, potentially mirroring the positive market impact seen following Bitcoin and Ethereum ETF approvals. The product is expected to begin trading on major Canadian exchanges in Q2 2025, with several major financial institutions reportedly preparing to offer the instrument to their clients.

Solana ETF Gets the Green Light, Will Launch In Canada This Week

There is no denying that the last two years have been monumental for the digital asset sector. The ongoing shift from a regulatory perspective has been unprecedented and undeniable. In the United States, the asset class has been embraced like never before, opening the door for increased legislation that supports its growth in the country.

That effort has been mirrored across the world for much of 2025 as well. Moreover, it will continue this week as the very first Solana ETF is officially set to launch in Canada. Specifically, Bloomberg’s Erich Balchunas shared a screenshot from the country’s TD Bank, noting its Ontario Securities Commission approval.

Canada is readying spot Solana ETFs to launch this week after regulator gave green light to multiple issuers incl Purpose, Evolve, CI and 3iQ. ETFs will include staking via TD pic.twitter.com/FSw149Xkm4

The product will be issued by Purpose, Evolve, CI, and 3iQ, according to the update. Additionally, the product will also offer staking features that allow users to earn rewards. The shared screenshot noted they “may provide higher yield shtan Ether staking and reduce overall ETF holding costs.”

Now, all eyes are on the process for a Solana ETF approval in the United States. There is no shortage of asset managers seeking to issue the investment vehicle. According to filings, Grayscale, Bitwise, 21Shares, Canary, and VanEck are all looking to issue the inaugural US SOL ETF.