Canary Marinade Solana ETF
SOLC
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- Canary Marinade Solana ETF (SOLC) is a passively managed exchange-traded fund that provides investors with spot exposure to the price of Solana (SOL), the native cryptocurrency of the high-throughput Solana Network; it seeks to reflect the performance of SOL as measured by the CoinDesk Solana CCIXber 60m New York Rate Pricing Benchmark, adjusted for the fund's expenses and liabilities; and as a secondary objective, it aims to generate additional SOL through staking rewards via the Solana Network's proof-of-stake mechanism. The fund holds SOL exclusively, with all assets custodied by BitGo Trust Company, Inc.; stakes substantially all eligible SOL (except reserves for redemptions or expenses) through Marinade Finance's (Sous Vide Ltd.) Marinade Select protocol, which delegates to a curated set of institutional-grade validators; and trades shares on the Nasdaq under the ticker SOLC in baskets of 10,000 shares created or redeemed in-kind with SOL or cash by authorized participants. The fund targets institutional and retail investors seeking regulated access to SOL's price appreciation and staking yields without direct cryptocurrency custody, operating within the digital asset and cryptocurrency investment segment. Canary Marinade Solana ETF, a Delaware statutory trust sponsored by Canary Capital Group LLC—a digital asset investment manager based in Brentwood, Tennessee—was registered in June 2025 and launched on Nasdaq on November 18, 2025, marking it as one of the first U.S. spot Solana ETFs to integrate staking directly into its structure. In May 2025, Canary Capital amended its S-1 filing with the SEC to rename the product the Canary Marinade Solana ETF and designate Marinade Finance as the exclusive staking provider for at least two years, powered by Marinade Select for compliant, transparent institutional staking; this partnership was further formalized in subsequent filings, including the October 2025 S-1/A amendment. The launch coincided with a wave of spot Solana ETF approvals, including competitors from VanEck (VSOL), Fidelity (FSOL), Bitwise, and Grayscale, attracting over $380 million in combined inflows amid Solana's ecosystem growth in decentralized finance, payments, and on-chain applications. The ETF maintains operations primarily in the United States, with no subsidiaries or parent entities beyond its sponsor.