4 ETF of Solana will launch tomorrow

Tomorrow, April 16, four funds quoted in the stock market (ETF) based in Solana (Sol) in Canada will be launched on the market.

According to a private statement shared by Eric Balchunas, senior analyst of Bloomberg Intelligencethe Ontario Securities Commission gave the green light to the financial products that will be issued by the Purpose, Evolve, CI and 3IQ financial asset management firms.

As Cryptonoticia explained, An ETF al cash is backed by the underlying asset and directly follows the value of the asset that represents. That is, if the price of Solana rises 5%, the financial instrument will reflect a similar increase, discounting commissions.

These financial products allow investors to have exposure to the price of the asset, without having to interact directly with it or take care of its custody.

The ETFs will offer staking functions, which will make investors receive dividends, as with some actions. “The new ETF of Solana will participate in Staking Activities to obtain rewards, which could provide higher yields than Ether Staking (ETH) and reduce the general ETF maintenance costs,” he stands out in the circular.

The launch of these products could increase the exposure of solana among institutional investors and improve their liquidity, which would generate a bullish impulse, provided that the demand exceeds the supply. However, we must bear in mind that the market is still mainly focused on the ETFs of the United States and the ETFs of other parts of the world care.

So far, the price of sun has not experienced significant movements, which suggests that, for now, there is no immediate impact due to this news.

At the time of the publication of this note, the price of the solana cryptocurrency is $ 131.

It is important to clarify that these They are not the first ETF al Caé de Sol in the world. Canada’s financial products are added to the financial instrument launched in Brazil in August 2024, the first of its worldwide.

As Cryptonotics reported, this Brazilian ETF is issued by the Digital Assets Management, QR ASSET, and managed by the Vortx investment company. It is available in Sao Paulo B3 under the QSOL11 ticket.

At the time of launching the ETFs of Solana in Canada, the question that arises is: what happens in the United States? (Well, as stated above, it is the financial market that captures market attention).

Canary Capital Digital Assets Management Companies, 21Shares, Wisdomtree, Grayscale and Franklin Templeton, have submitted their requests before the Bag and Securities Commission (SEC) to list their ETF of Solana.

The regulatory entity had paused these proposals until Paul Atkins assumes as the new president, replacing Gary Gensler.

Now that Atkins has been elected as head of the SEC, it would not be unreasonable to expect news in the short term regarding the approval or launch of these financial products.

It should be noted that, last month, in the United States the first ETFs of Futures de Solana debuted.

These funds, issued by Volatility Shares, a digital asset management firm, carry the names of Volatility Shares Solana ETF (Solz) and Volatility Shares 2x Solana ETF (Solt).

Unlike an ETF in cash, these instruments do not directly acquire Sol, but are based on futures contracts linked to the price of digital asset.

These contracts are agreements that establish the purchase or sale of Sol at a given price on a future date, although the liquidation is carried out in cash, without the need to exchange the cryptocurrency itself.

In this regard, Balchunas emphasized that these instruments “have not done much” since its launch and added that they have “very little in assets under management.”

In other words, the ETF of futures have not caught the attention of investors and, therefore, They do not handle a significant volume of capital.

Finally, it is worth noting that the SEC has not yet responded to the requests on the ETF Staking and the changes in the creation and reimbursement of funds quoted in the cryptocurrency stock market, postponing its decisions until the end of this year.

In this regard, Sherry R. Haywood, Undersecretary of the SEC, said in a document that “the Commission considers appropriate to establish a broader term to take measures on the change of proposed regulations, so that it has enough time to consider it and the issues it raises.”