Key Information:

• Canada is introducing four spot Solana ETFs with staking options, ahead of U.S. approvals.
• The ETFs are set to launch on the Toronto Stock Exchange starting Wednesday.
• In contrast, U.S. firms such as Grayscale and Fidelity are still awaiting SEC approval, while currently only Solana futures ETFs are in low-volume trade.

While U.S. investment firms await clearance for spot Solana (SOL) exchange-traded funds, Canadian traders can begin trading these on the Toronto Stock Exchange this forthcoming Wednesday.

Four asset management companies, including Purpose, Evolve, CI, and 3iQ, will be offering these products, and they will include options for staking, as noted in a report by ETF analyst Eric Balchunas.

Note: Consensus 2025 will take place in Toronto from May 14-16.

The Ontario Securities Commission granted approval for these ETFs on Monday.

Meanwhile, U.S. companies, including Grayscale, Franklin Templeton, 21Shares, Bitwise, VanEck, and Fidelity, await the Securities and Exchange Commission’s approval for launching a spot Solana fund.

Currently, there are two ETFs monitoring SOL futures trading on U.S. exchanges: the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), both garnering relatively low asset levels, approximately $5 million for SOLZ and $10 million for SOLT.

In contrast, spot crypto ETFs have flourished, amassing billions in investment over the past year, with Bitcoin (BTC) ETFs having achieved the most successful ETF rollout ever.