Canada has the first Sol-ETFs with a staking option-higher returns than at ETH?
- Canada is the first country in North America to launch Solana ETFs with staking options
- In the United States, the official admission procedures continue to continue.
The new ETFs will keep Solana (SOL) directly and both capital growth and staking bonuses. With the present approval of the OSC (Ontario Securities Commission), trade will be opened on April 16. Canada is ahead of the USA, where similar ETF applications are still being checked.
OSC approves four issuers for Solana ETFs
According to a circular from the Toronto-Dominion Bank, four asset managers-Purpose Investments, Evolve ETFS, CI Global Asset Management and 3IQ-have received approval from the OSC to note Solana ETFs on Canadian stock exchanges.
Each fund will keep physical soles and shares that enable investors to earn additional premiums by participating in the Solana consensus mechanism. The circular states that the ETFs all keep physical solana but will map different indices.
Eric Balchunas, ETF-Analyst bei Bloomberg, reported of the Approval and said that they will go on the market on Wednesday. These funds will offer potentially higher returns than ether-based ETFs, and also reduce the costs for investors. Staking is a key feature, the regulatory effects of which most global markets are still debating.
Global markets and reactions
Brazil was the first country to approve a Solana ETF in August 2024. However, the introduction to Canada is the first in which staking is used to a large extent in a developed market, so that the regulatory authorities are increasingly calmed down.
This is done against the background that several US companies-Wisdomtree, Bitwise, 21shares, Franklin Templeton and Canary Capital-are still waiting for their applications for their applications for Solana and XRP ETFs.
James Seyffart says that Canada has already approved staking in ETFs and that the approval in the USA could follow the regulatory authorities’ views by the end of 2025. In the United States, two Solana Futures ETFs-Volatility Shares Sol ETF and 2x Sol ETF-were launched, but which with a total volume of less than $ 15 million was difficult to gain a foothold. The 2x XRP ETF from Teucrium has over $ 17 million to Aum in its first week. Sol rose by 2 % after the OSC report. Staking will bring in institutional money and consolidate the Solana square in the ETF area.
It is expected that the integration of staking institutional capital attracts and strengthens the position of Solana in the area of digital asset ETFs.
When writing this article, the course of Solana is $ 131.60 and has dropped by about 1.24 % in the last 24 hours. The resistance for SOL is currently $ 134.58 and the support is $ 127.99.
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