Canary Capital Group has launched a new exchange-traded product that aims to capture the growing interest in Solana and yield-generating crypto strategies. Canary Marinade Solana ETF (NASDAQ:SOLC) has been positioned as a way for investors to gain spot exposure to SOL, the native token of the Solana (CRYPTO: SOL) blockchain, while accessing staking rewards, a feature still uncommon among U.S.-listed crypto funds.
The company said the product is an alternative way for investors to get direct exposure to Solana without needing to manage wallets, private keys, or exchange accounts. A highlight of the ETF will be its embedded staking mechanism, whereby SOLC holders can benefit from rewards generated via the proof-of-stake nature of the Solana blockchain. These rewards are therefore similar to variable interest payments for supporting the operation and security of the blockchain.
