Latest news with #CanaryMarinadeSolanaETF
Business Mayor
22-05-2025
- Business
- Business Mayor
Canary Capital pushes for SOL ETF staking – But the SEC ‘isn't ready' yet
Canary Capital amended its SOL ETF filing to include a staking provision. A Bloomberg ETF analyst stated that the regulator's approval was 'unlikely.' Asset manager Canary Capital has applied for a U.S. spot Solana [SOL] ETF (exchange-traded fund) with a staking feature, to increase investor returns if approved. According to the amended S-1 filing with the Securities and Exchange Commission (SEC), the asset manager will collaborate with Marinade Finance as a staking provider. The trust, Canary Marinade Solana ETF, will generate revenue through direct SOL exposure and staking rewards. 'The Trust's investment objective is to seek to provide exposure to the price of SOL held by the Trust… A secondary investment objective is for the Trust to earn additional SOL through the validation of transactions in the SOL network's proof-of-stake (PoS) process.' SEC to punt SOL ETF staking? Although the SEC's decision deadline for Canary Capital's previous SOL ETF application was in early June, the regulator may reject the staking request. When asked whether the agency would approve it in June, Bloomberg ETF analyst James Seyffart stated , 'Unlikely, particularly with staking. SEC isn't ready for staking in the ETF Grantor Trust wrapper … at least not yet.' Despite recent roundtable discussions between the SEC's Crypto Task Force and stakeholders on ETF staking, tokenization, and other issues, recent requests for spot ETH ETF by Bitwise and other issuers have been delayed. However, experts were hopeful that the SEC greenlight on altcoin ETFs may be likely from July or October. That said, SOL's mid-May cool-off was over, and it was ready to extend the Q2 recovery . Both spot CVD (Cumulative Volume Delta) and Open Interest (OI) rates declined from the 15 of May, reflecting a dip in spot market demand and speculative interest in derivative markets. Source: Coinalyze But spot CVD stabilized and slightly rebounded, suggesting spot market bidding was back. But was it enough to crack the $180 overhead hurdle? The $180 level has been a key resistance in 2024 and early 2025, and doubled as the 200-day SMA (Simple Moving Average). Source: SOL/USDT, TradingView Clearing the obstacle would allow bulls to target $220 — A potential +23% gain if hit. Besides, there was relatively low SOL profit-taking, and the market was not overheated per the Glassnode Profitability Map. This could boost the odds of cracking the $180 resistance.
Yahoo
21-05-2025
- Business
- Yahoo
Canary Amends SOL ETF S-1, Lists Exclusive Staking Provider
Canary Capital Group has amended its S-1 filing with the Securities and Exchange Commission for its Solana exchange-traded fund to name Marinade Select as its exclusive staking provider, reflected in the fund's new name: Canary Marinade Solana ETF. 'To our knowledge, this is the first SOL ETF to name a staking provider in a filing,' a spokesperson on behalf of Canary told In a statement posted to its website, Marinade called the move 'a major milestone for Solana' and 'a defining moment for institutional staking.' Staking refers to a method in which crypto investors can earn rewards on their investments via a blockchain network. Solana—the sixth-largest crypto asset by market capitalization (currently around $90 billion), according to data from CoinMarketCap—is a blockchain platform. SOL is its native token. Since the launch of spot Ether and Bitcoin ETFs, firms have been clamoring to bring a spot SOL ETF to the U.S. market. Fidelity Investments, for example, is looking to debut an ETF that tracks the price of SOL, according to a 19b-4 form filed by Cboe Exchange with the SEC in March. The first spot Solana ETF in North America launched in Canada last month. The proposed fund from Canary would provide investors exposure to SOL while participating in the staking rewards generated through Solana's proof-of-stake mechanism, according to Marinade's announcement. 'To enable this, Canary Capital amended its S-1 filing to include solana staking and named Marinade Select as its exclusive staking provider, establishing a precedent-setting structure for compliant, yield-bearing crypto ETFs,' the firm added. The fund intends to stake a portion of its assets through one or more staking providers, and Marinade Finance is expected to be the exclusive staking provider for at least two years, according to the | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
