- Four Canadian asset managers will offer Solana ETFs with staking on the Toronto Stock Exchange starting April 16.
- US Solana ETFs tracking futures without staking have seen limited interest, with leveraged XRP funds already accumulating more assets.
- US Ethereum ETFs have faced five consecutive days of outflows totaling US$88.5 million as part of larger April withdrawals.
- Despite recent outflows of approximately 10,000 Bitcoin in April, ETFs remain the largest Bitcoin holders globally at 6.1% of total supply.
Canada is once again leading the way in innovation. The country at the forefront of crypto exchange-traded funds (ETFs) – having launched the first spot Bitcoin and Ethereum ETFs – is now introducing the first-ever North American spot Solana ETF with staking.
Purpose Investments, 3iQ Digital Asset Management, CI Global Asset Management and Evolve Funds Group are the first four asset managers set to offer Solana ETFs in Canada.
Canadian investors will be able to trade these ETFs on the Toronto Stock Exchange from 16 April, with the added staking option, according to Bloomberg ETF analyst Eric Balchunas:
Note: via TD bank means they sent info out. Not that they are facilitating the staking. FYI!
Bloomberg ETF analyst Eric BalchunasBalchunas also noted that US Solana ETFs – which lack staking yields and track futures – have not seen much investor interest. Interestingly, leveraged XRP funds launched after the SOL ETFs already have more assets under management (AUM).
However, Balchunas said he wouldn’t “read a ton into it”, as it is still early days.
A decision on staking for US Ether ETFs was also delayed recently. Experts have speculated that the funds would have performed significantly better if staking had been included.
Related: CEO Brad Garlinghouse Says Ripple ‘Moving Past SEC’s War on Crypto’
Meanwhile, Ethereum and Bitcoin Funds Suffer Heavy Outflows
The US Spot Ethereum ETFs have recently suffered heavy losses and experienced five days of straight net outflows, totalling US$88.5 million (AU$139.8 million).
The five-day streak is part of a larger outpouring since the start of April, which was only briefly interrupted April 4 and 7, when the ETFs had US$2.1 million (AU$3.3 million) net inflows over the two trading days.
The total outflows for the US Ether ETFs for April are now US$144.9 million (AU$228.8 million) in half a month.
US spot Bitcoin ETFs have suffered a similar fate with seven days of net outflows, with only one net inflow day in April, when the funds added US$218.1 million (AU$344.2 million).
All tallied up, the funds had US$847.5 million (AU$1.3 billion) in net outflows in April – or around 10,000 Bitcoins.
Despite these large outflows, the US Spot Bitcoin ETFs still hold 5.3% of the total BTC supply, while all ETFs globally account for 6.1%.
This makes ETFs the number one BTC HODLers, followed by public companies which hold 3.3%. Countries make up 2.5% of the portion, with the US and China being the biggest holders.
Related: American Presidents: Trump Meets Bukele, Did They Discuss Bitcoin?
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