Canary Capital Files First U.S. Solana Staking ETF With 82% Approval Probability

Canary Capital has made a significant move by filing the first U.S. Solana Staking ETF in Delaware. This ETF offers investors a unique opportunity to earn staking rewards while also benefiting from potential price appreciation of Solana tokens. The ETF integrates Marinade Finance’s secure staking protocol, allowing investors to participate in Solana’s blockchain validation process without the need to manage complex wallets or technical details.

The ETF leverages Marinade Finance’s platform, which employs a network of 30 to 40 vetted validators who comply with stringent SOC 2 security standards. This decentralized validation approach ensures that investor funds remain secure and are not directly controlled by the ETF, thereby mitigating custodial risks commonly associated with crypto investments. By simplifying the staking process, the ETF provides a user-friendly entry point for investors who might otherwise be deterred by the complexities of managing private keys and staking nodes.

The SEC’s review of Canary Capital’s filing is a critical step toward legitimizing staking-based ETFs in the U.S. market. According to analysts, there is an 82% probability of approval by the end of 2025, reflecting increased regulatory clarity around digital asset classifications and futures markets. Solana’s recognition as a commodity and the existence of a robust futures market further bolster the ETF’s regulatory prospects. However, the SEC has previously delayed decisions on similar Solana ETF proposals, setting a final deadline of October 10, 2025, underscoring the cautious approach regulators are taking.

The introduction of a Solana staking ETF could significantly broaden access to crypto asset participation, particularly for investors seeking exposure to staking rewards without direct blockchain interaction. This product combines the benefits of price appreciation with yield generation, positioning itself as an attractive alternative to traditional investment vehicles. By simplifying the investment process and reducing technical barriers, the ETF may catalyze increased institutional and retail adoption, potentially influencing Solana’s market liquidity and valuation dynamics.

Canary Capital’s filing for the first U.S. Solana Staking ETF represents a strategic advancement in crypto investment products, merging staking incentives with the convenience of an ETF structure. As regulatory scrutiny intensifies, the ETF’s approval could set a precedent for future staking-based funds, enhancing investor choice and fostering broader acceptance of blockchain technologies in mainstream finance. Market participants should monitor the SEC’s decision closely, as it may signal a pivotal shift in how digital assets are integrated into regulated investment frameworks.