Surging demand for yield-enabled crypto exposure is accelerating the rollout of regulated solana products, as the Fidelity Solana Fund began trading on NYSE Arca under ticker FSOL while Canary Capital Group LLC introduced the Canary Marinade Solana ETF on Nasdaq under ticker SOLC.
Canary Capital stated in its official launch announcement:
Beyond the potential for price appreciation of SOL, the Canary Marinade Solana ETF also enables investors to potentially benefit from staking rewards generated through Solana’s proof-of-stake mechanism.
The asset management firm emphasized that its staking design is built around a curated validator framework, noting: “The ETF’s staking operations will be exclusively powered by Marinade Select, a high-efficiency staking platform built by Marinade Labs, the creators of Solana’s largest and most widely used staking protocol.”
The firm highlighted that SOLC aims to provide regulated access to solana while distributing staking-based amounts emerging from Marinade Select’s validator operations. “To us, Solana represents what’s next for blockchain adoption: speed, efficiency, and a thriving community of retail and institutional participants,” Steven McClurg, CEO at Canary Capital, opined.
Read more: Vaneck Launches Solana ETF With SOL Demand Powering Rapid Institutional Push
Separately, Fidelity’s FSOL prospectus explains that the ETF seeks to track the Fidelity Solana Reference Rate while adding staking-based amounts generated from SOL delegated through Anchorage Digital Bank NA, Bitgo Trust Company Inc., and Coinbase Custody Trust Company LLC. FSOL values its portfolio based on a volume-weighted median price updated every 15 seconds and allows the sponsor to stake up to 100% of held SOL, subject to liquidity, operational and regulatory considerations.
Critics warn of price volatility and custodian risks while supporters argue that regulated solana products broaden access to validator rewards, improve transparency around staking practices and help integrate high-performance blockchain networks into mainstream portfolio construction.
- What makes the new solana ETFs stand out?
They combine regulated market access with staking-based amounts generated through distinct validator and custody frameworks. - How does SOLC generate staking exposure?
SOLC routes staking exclusively through Marinade Select’s curated validator network to distribute staking-based amounts. - How does FSOL handle staking operations?
FSOL delegates SOL to regulated custodians such as Anchorage, Bitgo, and Coinbase Custody and can stake up to 100% of its holdings. - What risks do critics highlight with solana ETFs?
Concerns include potential slashing, market volatility and reliance on third-party custodians.
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