Canary’s Solana ETF Embraces Staking: A New Era for Crypto Funds?
Canary Capital updates its Solana ETF filing, incorporating SOL staking via Marinade Finance, signaling a shift towards yield-generating crypto ETFs
On May 21, 2025, Canary Capital submitted an amended S-1 filing to the U.S. Securities and Exchange Commission (SEC) for its proposed Solana-based exchange-traded fund (ETF), now named the “Canary Marinade Solana ETF.” This update introduces a novel feature: the integration of SOL staking through a partnership with Marinade Finance, a decentralized staking protocol.
The inclusion of staking allows the ETF to generate yield from the SOL tokens held, potentially offering investors additional returns beyond mere price appreciation. This move reflects a growing trend in the crypto investment space, where fund managers seek to incorporate yield-generating strategies into their products.
However, the SEC’s stance on staking within ETFs remains cautious. While the agency has approved spot Bitcoin and Ethereum ETFs, products involving staking introduce complexities related to asset custody and regulatory oversight. Canary’s innovative approach may prompt further discussions on the regulatory framework for such offerings.
For investors, the Canary Marinade Solana ETF represents a potential opportunity to gain exposure to Solana’s performance while benefiting from staking rewards. As the crypto ETF landscape evolves, products that combine asset appreciation with yield generation could become increasingly attractive.
