Key Notes
- Canary Capital has filed an amended S-1 form for its spot Solana ETF, now named the Canary Marinade Solana ETF.
- The fund’s secondary objective is to earn yield for investors by staking its SOL holdings through a partnership with Marinade Finance.
- This filing is one of the first to formally integrate staking into a spot crypto ETF, introducing new potential returns and unique risks.
Canary Capital Group is moving forward with its plans for a spot Solana
SOL
$196.4
24h volatility:
1.9%
Market cap:
$106.62 B
Vol. 24h:
$11.04 B
exchange-traded fund (ETF), submitting a key update to its proposal.
An amended S-1 filing with the US Securities and Exchange Commission on Sept. 26 reveals a new name for the product, the so-called “Canary Marinade Solana ETF,” and a novel strategy to generate extra yield for investors.
According to the official SEC filing, the fund’s primary objective is to track the price of Solana, allowing investors to gain exposure through traditional brokerage accounts.
Canary Capital Group, which is also pursuing spot ETFs for HBAR
HBAR
$0.21
24h volatility:
1.4%
Market cap:
$8.88 B
Vol. 24h:
$278.23 M
and Litecoin
LTC
$103.0
24h volatility:
0.9%
Market cap:
$7.85 B
Vol. 24h:
$542.25 M
, is sponsoring the fund, with BitGo Trust Company serving as custodian.
A new model: integrating staking for yield
The most notable part of the updated filing is the fund’s secondary objective: to earn additional SOL by staking. This strategy of leveraging Solana’s native yield is gaining traction, with a Nasdaq-listed firm recently creating a $500 million Solana treasury for that purpose.
This means the ETF will not just hold SOL but actively use it to earn network rewards.
To achieve this, the fund will partner with Marinade Finance, named in the filing as the exclusive staking provider.
The document clarifies that the custodian, BitGo, will stake the assets using Marinade’s
MNDE
$0.12
24h volatility:
4.3%
Market cap:
$67.24 M
Vol. 24h:
$3.24 M
protocol while maintaining full control of the private keys associated with the staked SOL.
Related article: Solana and XRP Lead Record 96 Crypto ETF FilingsFor investors, the primary benefit of this model is the potential for enhanced returns. The strong demand for such products is already clear, with another staking ETF nearing $300M in assets under management.
This move comes as anticipation for a Solana ETF grows, especially after several proposed funds were recently added to the DTCC website.
While the staking model offers a competitive edge, the filing acknowledges new risks. The document notes that although the Solana network does not currently use “slashing” penalties, there is no guarantee they won’t be implemented in the future.
The fund must also manage liquidity risks associated with staking lock-up periods.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Standard Chartered Sees Solana Shifting Beyond Memecoins Toward Payments
_Standard Chartered set SOL $250 target for 2026 and $2,000 forecast for 2030._
_Solana stablecoin turnover is 2–3x higher than Ethereum, per report data._
_Bank links Solana growth to low fees and shifts toward payment use cases._
Standard Chartered has revised its Solana outlook as
LiveBTCNews7h ago
Phantom Wallet crashes big time! During the airdrop period, token prices went haywire and balances were reset to zero—users blasted it for “making them pay up.”
Phantom, a wallet in the Solana ecosystem, experienced a service outage during the airdrop, causing abnormal token prices and account balances to be displayed, which affected user transactions. Some users suffered losses as a result and demanded compensation. Security experts warned of the risk of phishing attacks and advised users to verify on-chain data. Although the issue has been fixed, the trust crisis still needs to be monitored. This incident highlights the challenges of self-custody wallets in terms of system stability and the user experience.
区块客9h ago
The U.S. spot SOL ETF had a net inflow of $11.4530 million yesterday
On April 10, the U.S. SOL spot ETF recorded a net inflow of $11.4530 million in a single day. The Bitwise Solana Staking ETF (BSOL) contributed all of the inflow, bringing the historical total net inflow to $789.00 million. The current net asset value (NAV) of the SOL spot ETF’s total assets is $828.00 million, and the historical cumulative net inflow is $975.00 million.
GateNews10h ago
Alchemy Launches $20M Fund To Accelerate Solana Innovation
The race to dominate Web3 infrastructure continues to intensify, and Alchemy just made a bold move. The company launched a $20 million initiative aimed at accelerating innovation within the Solana ecosystem. This step signals a deeper commitment to empowering developers who want to build fast,
Coinfomania15h ago
Circle minted a total of 10.5 billion USDC on Solana over the past month
Gate News update, on April 10, Circle added another 250 million newly minted USDC today. Data shows that over the past month, Circle has cumulatively minted 10.5 billion USDC on Solana.
GateNews23h ago
