Solana Surges 4.5% After Canada Launches First Spot Solana ETFs

Solana (SOL) saw a strong 4.5% rally this week, driven by a major development in Canada: the approval and launch of the world’s first spot Solana exchange-traded funds (ETFs). These new ETFs, offered by Canadian asset manager 3iQ, are now listed on the Toronto Stock Exchange under the ticker QSOL. They represent a key moment in Solana’s evolution, giving investors regulated exposure to one of the most prominent Layer 1 blockchain ecosystems.

What sets these ETFs apart is that they’re designed not only to track Solana’s price in U.S. dollars but also to include staking rewards — estimated to be in the range of 6% to 8% annually. This structure creates an attractive opportunity for both institutional and retail investors looking to earn passive income while gaining access to SOL’s price action, all through a familiar investment vehicle.

Coinbase Custody and Tetra Trust are managing custody for the new funds, ensuring secure storage and compliance with Canadian regulatory standards. Canada has historically led the way when it comes to embracing crypto ETFs, having previously launched the world’s first spot Bitcoin and Ethereum ETFs. The addition of Solana to this list reinforces Canada’s position as a forward-thinking crypto market.

While the U.S. continues to lag in approving similar crypto investment products — including spot ETFs for Bitcoin and Ethereum — many in the industry hope that Canada’s progressive moves will build pressure for U.S. regulators to follow suit. For now, Solana’s ETF debut marks a big step forward in mainstream adoption, signaling that altcoins are gaining more recognition in regulated financial markets. Investors and developers alike will be watching closely to see what kind of momentum this breakthrough generates in the weeks ahead.