Canary Capital Files Application to Launch a Solana ETF

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Canary Capital has submitted an application to the SEC for a Solana (SOL) ETF. This is part of a recent trend of asset managers seeking to offer cryptocurrency-backed ETFs on traditional exchanges.

If approved, the Solana ETF would give investors exposure to SOL without needing to directly hold the asset.

Along with the Solana ETF, Canary Capital has also applied for ETFs tied to XRP and Litecoin, showing their focus on offering regulated pathways for investors to access major digital assets.

The firm submitted the S-1 registration statement to the SEC on October 30 and highlighted Solana’s active ecosystem and low transaction fees, which have contributed to a high transaction volume and increasing number of unique addresses on the network.

According to Canary Capital, Solana’s thriving DeFi ecosystem has resulted in consistently strong on-chain analytics, such as transactions per day.