- Canary Solana ETF includes staking via Marinade Select for added yield
- SEC set to rule on staking-enabled Solana ETF by July 24, 2025
- Over nine firms filed Solana ETF applications amid growing demand
Canary Capital has registered the Canary Marinade Solana ETF in Delaware, in a major development in ETF innovation. The firm added a staking feature to its S-1 filing with the U.S. Securities and Exchange Commission (SEC). The new structure enables investors to earn Solana staking rewards.
Canary Marinade Solana ETF Structure
The ETF uses Marinade Finance as its exclusive staking provider, which makes it different from all other Solana ETF applications in the U.S. The new filing also renames the product as the Canary Marinade Solana ETF to show this partnership. The SEC continues to review the amended application, and a final decision is expected on July 24, 2025.
The Canary Marinade Solana ETF seeks to track the performance of Solana (SOL) and add staking rewards. Solana’s proof-of-stake model enables staking, which secures the Solana network through token delegation. Investors who stake their assets could receive additional returns to market exposure.
Marinade Finance will use its Marinade Select platform to manage staking operations and provide non-custodial infrastructure. Marinade Select complies with SOC 2 requirements and uses KYC-verified validators. This ensures that the investors’ assets are secure and compliant with regulations under the ETF’s staking model.
Institutional Validators to Offer Custody of the Assets
The ETF has partnered with institutional validators to offer custody of the assets. This method ensures decentralization is increased and institutions are more secure. It also makes sure that staking follows the best regulatory practices in the U.S. market.
Marinade Select supports staking of more than 10 million SOL, which makes it credible as a staking provider. The platform has integrated with platforms like Coinbase Prime and Bitwise Europe. Its addition to the ETF provides the product with transparent and solid operations.
The SEC reviews the filing which includes staking, a feature that is not common in U.S-based ETFs. The regulator’s decision is expected in late July, but there may be delays. A lot of investors are paying close attention because of the increased interest in staking-enabled ETFs.
Growing Solana Spot ETF Applications
Other major companies have submitted applications for Solana ETFs, which demonstrates institutional interest in Solana. VanEck, 21Shares, and Grayscale are some of the companies that have proposed their own ETFs. Some companies, such as 21Shares, have introduced staking-based Solana products in Europe.
Grayscale and Bitwise seek to convert their Solana Trust into a spot ETF in separate applications. These filings show increased confidence in Solana’s role in the market and its staking utility. If approved, Canary ETF could earn a competitive advantage because it offers investors both access to the market and a steady income.
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