The spot Solana ETFs will debut in Canada on April 16, Bloomberg analyst Eric Balchunas reported.
In a post published April 14, Balchunas shared a TD Bank private client note stating that the Ontario Securities Commission (OSC) has approved asset managers Purpose, Evolve, CI and 3iQ to issue ETFs holding Solana.
Canada lacks a federal securities agency, so its territories and provinces apply their own securities laws. The Toronto stock exchange is regulated by the Ontario CSO.
According to Balchunas, ETFs can stake a portion of their holdings in Solana to generate additional yield.
The OSC confirmed the approval and oversight of these Solana ETFs conform to a January notice that updated rules for exchange-traded funds holding cryptocurrencies.