The world of digital asset investing is taking another groundbreaking leap forward, as Purpose Investments Inc. prepares to launch the world’s first spot Solana ETF—the Purpose Solana ETF (ticker: SOLL). Set to begin trading on the Toronto Stock Exchange on April 16, 2025, this innovative financial product offers investors direct exposure to Solana’s native cryptocurrency, SOL, in a fully regulated, exchange-traded format.
This milestone continues Purpose’s legacy of pioneering crypto ETF innovation, following its successful launches of the world’s first spot Bitcoin and Ether ETFs. With the introduction of SOLL, investors gain a secure, accessible, and efficient way to participate in one of the most dynamic blockchains powering decentralized applications today.
Direct Spot Exposure with Built-In Staking Rewards
Unlike synthetic or futures-based crypto funds, the Purpose Solana ETF (SOLL) provides direct spot exposure to Solana. This means the fund holds actual SOL tokens, offering transparency and alignment with the real-time market value of the asset.
What sets SOLL apart is its integration of staking rewards—a feature powered by Purpose’s proprietary in-house validator infrastructure. By running its own validators on the Solana network, Purpose eliminates third-party staking fees, potentially increasing net returns for investors.
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Staking allows holders to earn passive income by supporting the security and operations of the Solana blockchain through validator participation. In traditional setups, these rewards are often reduced by service provider fees. But with Purpose’s self-operated validators, cost inefficiencies are minimized—translating into more value for ETF shareholders.
Accessible Investment Options Across Currencies
To accommodate a broad range of investors, the Purpose Solana ETF will be available in three distinct share classes:
- SOLL: CAD-hedged units
- SOLL.B: CAD non-hedged units
- SOLL.U: USD non-hedged units
This structure allows both Canadian and international investors to access Solana with flexibility in currency denomination and hedging strategy. Whether you're a retail investor seeking simplicity or an institutional player managing currency risk, SOLL offers a tailored solution.
No need for digital wallets, private keys, or exchange accounts—investors can buy and sell shares of SOLL just like any other stock through their brokerage platform.
Purpose’s Leadership in Digital Asset Innovation
Purpose Investments has firmly established itself as Canada’s largest digital asset ETF manager, with over $22 billion in assets under management. Its track record of innovation includes:
- Purpose Bitcoin ETF (BTCC) and Purpose Ether ETF (ETHH): The world’s first spot Bitcoin and Ether ETFs, known for high liquidity and regulatory compliance.
- Purpose Bitcoin Yield ETF (BTCY) and Purpose Ether Yield ETF (ETHY): Income-focused funds using covered call strategies to generate yield from crypto holdings.
- Purpose Ether Staking Corp. ETF (ETHC.B): A regulated vehicle providing exposure to Ethereum’s proof-of-stake rewards.
The addition of SOLL further solidifies Purpose’s position at the forefront of bridging traditional finance with next-generation blockchain technologies.
Why Solana? The Case for High-Performance Blockchain
Solana has emerged as a leading Layer-1 blockchain, renowned for its high throughput, low transaction costs, and scalable infrastructure. It supports a rapidly growing ecosystem of decentralized finance (DeFi), non-fungible tokens (NFTs), Web3 applications, and real-world asset tokenization.
With thousands of transactions processed per second and average fees under $0.01, Solana offers a compelling alternative to slower, more expensive networks. Its adoption by major institutions and developers continues to accelerate, making it a strategic asset for forward-thinking investors.
As blockchain technology reshapes financial markets, Purpose remains committed to helping investors navigate the digital economy with confidence—offering regulated, transparent, and user-friendly investment vehicles.
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Frequently Asked Questions (FAQ)
What is a spot Solana ETF?
A spot Solana ETF is an exchange-traded fund that holds actual SOL tokens rather than derivatives or futures contracts. This provides investors with direct exposure to the current market price of Solana, with the added benefits of regulatory oversight and stock exchange liquidity.
How does staking work in the Purpose Solana ETF?
The ETF stakes its SOL holdings using Purpose’s own validator nodes on the Solana network. The rewards generated from staking are distributed to shareholders, net of expenses. Because Purpose operates its validators in-house, it avoids third-party fees—potentially enhancing investor returns.
Is the Purpose Solana ETF safe?
Yes. As a regulated financial product listed on the Toronto Stock Exchange, SOLL adheres to strict reporting, custody, and compliance standards. Investors benefit from institutional-grade security without the complexities of self-custody.
Can I trade SOLL outside Canada?
While SOLL trades on the TSX, international investors can access it through global brokerage platforms that support Canadian exchange listings. The availability of USD-denominated units (SOLL.U) also facilitates cross-border investment.
Does the ETF pay dividends?
The Purpose Solana ETF does not pay traditional dividends. However, it may distribute staking income to shareholders periodically, subject to regulatory guidelines and fund performance.
How is SOLL different from other crypto ETFs?
SOLL is the first ETF to offer direct spot exposure to Solana, combined with in-house staking rewards. Its unique structure—featuring proprietary validator infrastructure—sets it apart from other crypto funds that rely on third-party services or use indirect investment methods.
The Future of Crypto Investing Is Here
With the launch of the Purpose Solana ETF, investors now have a powerful new tool to gain exposure to one of the most innovative blockchains in existence. By combining regulatory compliance, direct asset ownership, and enhanced yield potential through staking, SOLL represents the next evolution in digital asset investing.
As blockchain technology continues to mature and integrate into mainstream finance, products like SOLL will play a crucial role in democratizing access and building trust among traditional investors.
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For those looking to participate in the growth of decentralized ecosystems without managing private keys or navigating volatile exchanges, the Purpose Solana ETF offers a streamlined, secure, and rewarding path forward.
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