Canadian SOL ETFs Enjoy $120M CAD inflows in First Week’s Trading

One week ago today, the Toronto Stock Exchange made history, opening trading for North America’s first spot Solana ETFs.

With one week’s trading in the books, one firm has dominated Canadian $SOL ETF markets, amassing 82% of inflows.

Why is 3iQ’s SOLQ fund the clear leader, and which of the financial world’s key players are taking a seat at the table?

3iQ Witnesses $120M CAD Inflows in First Week

On April 15, 2025, the Toronto Stock Exchange listed a range of Solana ETFs, operated by Canadian TradFi firms 3iQ, Purpose, Evolve, and CI Galaxy. After a week’s trading, 3iQ has emerged as the distinct leader, attracting over 82% of capital inflows and boasting a dramatically higher fund NAV.

Despite 3iQ’s Bitcoin and Ethereum ETFs having a considerably smaller NAV than those operated by rivals Purpose and CI Galaxy, the firm has dominated Solana inflows. This could be due to the fact that the firm has abolished fund management fees for its first year of trading. Meanwhile, Evolve is also operating a feeless fund until January 2026, while the Purpose and CI Galaxy funds charge a 0.39% and 0.35% management fee, respectively.

All Canada’s listed spot Solana ETFs include staking rewards, with firms turning to trusted genesis validator operators like Figment to oversee staking services.

Cathie Wood’s Ark Invest Takes $SOL Position

With Canada welcoming Solana to traditional markets and public companies adopting $SOL as a treasury asset, some of the world’s key asset managers are eager to show their support for Solana.

Cathie Wood’s Ark Invest, a US-based asset manager boasting over $9B in AUM across various funds, has made its first direct investment in Solana. Acquiring shares of 3iQ’s SOLQ in two of its funds (ARKW and ARKF), Ark Invest becomes the first US-listed ETFs to add Solana to its portfolio.

With macro market conditions stabilizing following President Trump’s 90-day tariff pause, TradFi players are accumulating $SOL at a startling rate. Publicly traded companies like Janover and Upexi have collectively raised over $140M from private investors to acquire Solana, highlighting TradFi’s growing interest and acceptance of cryptocurrency as an asset class.

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