The World's First Solana ETFs Will Start Trading: Here Is That Date! - Coin Bulletin

Canada is preparing to launch the world's first spot Solana ETFs on April 16.

Canada has taken another step for cryptocurrency investors by giving the green light to spot Solana (SOL) ETFs. According to the circular from TD Bank shared by Bloomberg's senior ETF analyst Eric Balchunas, the Ontario Securities Commission (OSC) has approved the funds issued by Purpose, Evolve, CI, and 3iQ.

One of the prominent features of ETFs is that it offers investors the opportunity for staking. It has been stated that the aforementioned staking feature could provide higher returns compared to Ethereum (ETH) staking transactions, thus potentially reducing the cost of holding ETFs.

As Canada takes this step, major asset managers in the U.S. have also expedited their applications for spot Solana ETFs. Giant companies like Grayscale, Bitwise, 21Shares, Canary, and VanEck are awaiting approval by applying for the Solana ETF to the U.S. Securities and Exchange Commission (SEC).

The Solana futures ETFs that started operating in the US last month have so far shown low performance. The assets under the management of the Volatility Shares Solana ETF, launched in March, remain at approximately 5.1 million dollars, while the Volatility Shares 2X Solana ETF has accumulated approximately 8.7 million dollars in assets.

Eric Balchunas stated that the current Solana ETFs in the US are receiving low interest, saying, "The total assets of the two Solana ETFs in the US are even behind the recently launched 2X XRP ETF. Although this situation is not yet decisive for altcoin ETFs, it is noteworthy."