Why Canada’s Solana ETFs Might Just Be Fancy Paperweights

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Canadian retail investors have been presented with a brand-new, shiny – yet possibly underwhelming – option in the wild and woolly world of spot crypto ETFs. Cue the confetti, or maybe just a polite golf clap. 🎉🤷‍♂️

Canada Shuffles in Solana ETFs Like They’re at a Formal Dance

On Wednesday, four investment managers decided to toss Solana (SOL) ETFs into the great Canadian mixing pot, all thanks to the approving nod from the Ontario Securities Commission (OSC). Apparently, the regulators thought, “Why not spice things up with some spot Solana?”

Purpose Investments (SOLL), CI Global Asset Management (SOLX), 3iQ (SOLQ), and Evolve (SOLA) all strutted their own uniquely branded Solana ETFs onto the Toronto Stock Exchange (TSX)—Canada’s grandest market stage—complete with *staking rewards*. Because nothing says temptation like getting paid to stare at numbers fluctuating wildly. 📉📈

So now, Solana joins the exclusive Canadian crypto club alongside the big kahunas of Bitcoin (BTC) and Ether (ETH), all proudly backing spot ETFs that hopefully won’t make investors reach for the aspirin bottle.

But before you start daydreaming about overnight riches, Bloomberg’s ETF analyst Eric Balchunas threw a frosty nuance into the mix. His take? The newly-minted Solana ETFs might not exactly set the investment world on fire. 🔥❄️

A couple of Solana futures ETFs in the U.S. were launched last month with great fanfare and maybe a sniff of optimism, but retail investors have largely treated them like that weird casserole at the potluck—emberassing, and best left untouched. Oops.

“The two Solana ETFs in [the] U.S. (which track futures, so not quite the perfect crystal ball) haven’t exactly done the cha-cha,” Balchunas tweeted from his high analyst tower. Meanwhile, the 2x XRP ETF, which waltzed in later, has somehow managed to collect more assets under management. Go figure. Here’s the soap opera live from X (formerly Twitter).

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2025-04-18 07:57