Canada’s leading position in ETFs continues to deliver
Purpose Investments is due to launch another world first ETF on the Toronto Stock Exchange today (April 16).
The firm, which previously launched the first spot Bitcoin and Ether ETFs in the world, will extend the crypto-focused funds offering to Solana with its Purpose Solana ETF (ticker: SOLL).
Chief innovation officer Vlad Tasevski says the new fund will offer investors regulated access to Solana’s high-performance blockchain without needing digital wallets or exchanges.
“Solana represents the next wave of blockchain innovation — lightning-fast, scalable, and powering real-world applications. Launching the world’s first spot Solana ETF is a natural next step for Purpose,” he said. “With SOLL, we will combine direct access to this rapidly growing ecosystem with built-in staking rewards powered by Purpose’s validator infrastructure — giving investors a secure and easy way to earn more from investing in Solana.”
UPDATE: On April 17, Purpose clarified its statement to say that its fund is "one of the first ETFs worldwide to provide direct physical exposure to Solana while delivering staking rewards accruing directly to the fund."
CI Global Asset Management also added a Solana ETF to its suite of funds on April 16. CI Galaxy Solana ETF is now trading on the TSX and the firm is fully waiving the management fee of 0.35% until July 16, 2025.
“The fee waiver demonstrates our commitment to providing investors with convenient exposure to emerging digital asset classes and the remarkable growth potential of decentralized finance,” said Jennifer Sinopoli, Executive Vice-President and Head of Distribution for CI GAM. “Solana has become one of the core blockchain networks driving innovation and change, making SOLX a timely addition to our lineup of cryptocurrency investment solutions.”
The CI GAM fund has been launched in partnership with Galaxy Asset Management.
"Introducing Solana’s combination of speed, scalability, and staking potential through an ETF wrapper provides investors with direct exposure and opportunities for additional yield through staking rewards within the evolving landscape of digital assets," said Steve Kurz, Global Head of Asset Management at Galaxy.
The new funds launch against a backdrop of a strong Canadian ETF landscape, as highlighted in the recently published quarterly overview from ETF Market Canada.
The report reveals that assets under management in the first quarter of 2025 surged by $33 billion since the fourth quarter of 2024, reaching a record high of $600 billion as of end of March 2025. Almost a third of Canadian ETF assets are actively managed (31%) and total $186 billion.
The first quarter of this year saw Canadian ETF net inflows reach a new record high of $36 billion, more than double the $16 billion of the same period in 2024, with half of these net flows captured by active ETFs.
By asset class, $15.8 billion of inflows was for equity ETFs while fixed income ETFs saw inflows of $14.3 billion. There was also $350 million for commodity ETFs and $140 million for crypto ETFs.
