Canada is preparing to launch the first Solana (SOL) spot ETFs with staking capabilities
while the US Securities and Exchange Commission (SEC) has decided to delay any progress on the feature in Grayscale’s proposed Ethereum (ETH) ETF.
According to Bloomberg analyst Eric Balchunas, the Ontario Securities Commission (OSC) has approved the issuance of staking SOL ETFs by managers such as Purpose Investments, Evolve, CI and 3iQ. The products are expected to launch as early as April 16, 2025, and represent a milestone in combining direct exposure to the asset with staking income generation.
Unlike futures contracts, Canadian ETFs will hold SOL in physical form and will use direct participation in the protocol to distribute rewards to shareholders. With estimated yields of between 5% and 7% per year, this approach may appeal to investors focused on passive income strategies.
Canada is readying spot Solana ETFs to launch this week after regulator gave green light to multiple issuers including Purpose, Evolve, CI and 3iQ. ETFs will include staking via TD pic.twitter.com/FSw149Xkm4 — Eric Balchunas (@EricBalchunas) April 14, 2025
Although TD Bank is involved in the structure, Balchunas clarified that its role is limited to disseminating information, without direct intermediation in the staking process. The move reinforces the pro-crypto stance adopted by Canada, which had already authorized Bitcoin and Ethereum ETFs between 2020 and 2021.
Meanwhile, the US SEC is taking a different tack. The regulator has postponed a decision on the staking component of Grayscale’s Ethereum ETF, citing concerns about potential risks to investors, market manipulation and the legal classification of staking rewards.