Canada is reportedly making a noteworthy development in the crypto ETF sector. As per the reports, Canada is going to release the earliest spot Solana ($SOL) ETFs with the provision of staking capabilities. Ontario Securities Commission (OSC) has thus authorized 4 asset management platforms for the release of these ETFs.
Canada to Issue 1st Spot $SOL ETFs Along with Staking Capabilities
The reports point out that Canada’s Ontario Securities Commission has permitted 3iQ, CI, Evolve, and Purpose to issue spot $SOL ETFs that also offer staking capabilities. Hence, the respective asset managers are going to launch their exchange-traded funds on the Toronto Stock Exchange within this week. The latest $SOL ETFs are anticipated to be released on Wednesday.
The exclusive spot Solana ETFs will reportedly feature long-term physical $SOL holdings while tracking diverse indices. The distinction of these ETFs is the staking integration, enabling holders to get yield on token holdings. The development has grasped the attention of key opinion leaders (KOLs) who have been venerating Solana for its remarkable development.
Solana Makes Unparalleled Growth in NFT and DeFi Markets
Additionally, the spot $SOL ETF launch is also attracting individual investors who are adopting Solana for its considerable contribution to the DeFi and NFT sectors with diverse NFTs and dApps. At present, Solana is changing hands at nearly $129.97, showing a 2.2% dip over 24 hours. Irrespective of the provisional fluctuations, $SOL’s investor demand is strong, specifically with additional regulated liquidity options in the market.
The reports point out that, amid the growing ETF sector, Canadian ETFs providing staking capabilities and multi-coin portfolios (MCP) are getting prominence. Thus, the spot $SOL ETF release marks a crucial landmark. This move also highlights the rising confidence in the wider altcoin sector.
