3 weeks ago
According to Bloomberg's Eric Balchunas, aggregate SOL ETFs are acceptable to motorboat successful Canada connected April 16. The funds are expected to diagnostic SOL staking.
Spot Solana exchange-traded funds (ETFs) are acceptable to motorboat successful Canada connected April 16, according to Bloomberg expert Eric Balchunas.
In an X station connected April 14, the expert shared a backstage lawsuit enactment from TD Bank, a Canadian fiscal institution, claiming the Ontario Securities Commission (OSC) greenlighted plus managers Purpose, Evolve, CI and 3iQ to contented ETFs holding Solana (SOL).
The OSC did not instantly respond to Cointelegraph’s petition for comment.
Canada does not person a national securities agency, with its territories and provinces applying their ain securities laws. Toronto’s securities speech is regulated by Ontario’s OSC.
The ETFs are permitted to involvement a information of the SOL holdings for added yield, Balchunas said, adding that the upcoming listings are “our archetypal look astatine the alt coin race.”
Source: Eric Balchunas
Related: SEC approves options connected spot Ether ETFs
Waiting connected US approval
The US Securities and Exchange Commission (SEC) has acknowledged dozens of applications to database ETFs holding alternate cryptocurrencies, oregon “altcoins,” but truthful acold has lone approved funds holding spot Bitcoin (BTC) and Ether (ETH) for trading.
Staking is inactive disconnected limits for US crypto ETFs. Bloomberg expert James Seyffart said Ether ETFs could beryllium greenlighted to start staking arsenic soon arsenic May, but the process whitethorn instrumentality months longer.
However, investors’ request for altcoin ETFs whitethorn beryllium weaker than for funds holding halfway cryptocurrencies, Katalin Tischhauser, crypto slope Sygnum’s probe head, told Cointelegraph successful August.
“[T]here is each this frothy excitement successful the marketplace astir these ETFs coming, and nary 1 tin constituent to wherever important request is going to travel from,” Tischhauser told Cointelegraph.
Volatility Shares’ SOL futures ETF has astir $5 cardinal successful nett assets. Source: Volatility Shares
In March, plus manager Volatility Shares launched the archetypal ETFs to way Solana’s show using fiscal derivatives.
Volatility Shares Solana ETF (SOLZ) has seen a lukewarm reception, attracting lone astir $5 cardinal successful nett assets arsenic of April 14, according to its website.
“FWIW, the 2 solana ETFs successful US (which way futures truthful not a cleanable guinea pig) haven't done much. Very small successful aum. The 2x XRP already has much aum than some the solana ETFs and it came retired after,” Balchunas said.
Balchunas added that helium “[w]ouldn't work a ton into it” arsenic a predictor for spot SOL ETFs.
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