Canada Launches First Spot Solana ETFs With 8% Staking Yields

Canada is poised to introduce its first spot Solana (SOL) ETF with staking provisions, marking a significant development in the cryptocurrency investment landscape. According to a senior ETF analyst, the launch is scheduled for April 16, following regulatory approval for multiple issuers, including Purpose, Evolve, CI, and 3iQ. The ETFs will offer staking through TD, providing investors with an opportunity to earn additional returns on their holdings.

The introduction of these ETFs comes at a time when Solana staking yields an 8% annualized return, nearly triple that of Ethereum staking rewards. This high yield could potentially drive demand for the new ETFs, although the actual impact remains to be seen. The analyst also noted that while the U.S.-based Tecrium XRP ETF has shown strong interest and higher assets under management (AUM) compared to existing Solana ETFs, it is too early to draw definitive conclusions about the performance of altcoin ETFs.

Several issuers, including Grayscale, have applied for U.S. spot SOL ETFs, with a potential decision deadline from the Securities and Exchange Commission (SEC) between May and October 2025. The launch of these ETFs in Canada could set a precedent for similar products in other regions, potentially influencing the broader cryptocurrency market.

Despite the potential for increased demand, the analyst downplayed the immediate impact of the new ETFs, suggesting that the market's reaction to altcoin ETFs is still uncertain. The launch of these ETFs could provide valuable insights into investor interest and the potential for future altcoin ETFs, but it remains to be seen how they will perform in the long term.