Share this article
First Spot Solana ETFs to Hit Canadian Market This Week
Four issuers — Purpose, Evolve, CI and 3iQ — are bringing their products to the Toronto Stock Exchange on Wednesday.
Updated Apr 15, 2025, 2:49 p.m. Published Apr 15, 2025, 2:39 p.m.
What to know:
- Canada has approved four spot Solana ETFs with staking, beating the U.S. to market access.
- The ETFs, launching Wednesday on the Toronto Stock Exchange, come from Purpose, Evolve, CI and 3iQ.
- U.S. issuers like Grayscale and Fidelity remain stuck in SEC review, while only Solana futures ETFs trade with low volume.
While U.S. issuers are still waiting for the approval of a spot Solana exchange-traded fund (ETF), Canadian investors will be able to trade such funds on the Toronto Stock Exchange starting Wednesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Four asset managers are set to bring their product to the market, including Purpose, Evolve, CI and 3iQ, all of which will have staking abilities as well, according to a TD Cowen note shared by ETF analyst Eric Balchunas.
Consensus 2025 takes place in Toronto May 14-16. Click here for tickets.
The funds were approved by the Ontario Securities Commission (OSC) on Monday, according to the note.
Meanwhile, issuers in the U.S., including Grayscale, Franklin Templeton, 21Shares, Bitwise, VanEck and Fidelity, are still waiting for the green light from the Securities and Exchange Commission (SEC) to launch a spot Solana fund.
There are currently two ETFs tracking SOL futures trading on U.S. markets, the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), both of which have attracted a relatively small amount of assets, around $5 million for SOLZ and $10 million for SOLT.
The spot crypto ETFs, however, have seen immense success among investors, attracting multiple billions of dollars over the course of a year, with the bitcoin ETFs becoming the most successful ETF launch in history.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin eyes longest daily winning streak in 3 months
Bitcoin rose over 1% during Monday's Asian trading session, marking a potential five-day winning streak.
What to know:
- Bitcoin rose over 1% during Monday's Asian trading session, marking a potential five-day winning streak.
- The broader crypto market, including major cryptocurrencies like XRP, solana, and ether, also saw gains of up to 1%.
- Tax-loss selling has subsided, one analyst said explaining the upswing, while others attributed the uptick to haven demand.
Top Stories
