Canary Files First U.S. Solana ETF With Staking, Marinade Finance Named Provider; SEC Decision Pending

Canary Capital has filed an amended S-1 registration with the U.S. Securities and Exchange Commission for its proposed spot Solana exchange-traded fund (ETF), renaming it the ‘Canary Marinade Solana ETF.’ The updated filing introduces staking as a feature of the ETF, making it the first U.S.-based Solana ETF application to explicitly include a staking solution.

Marinade Finance has been named as the exclusive staking provider for the ETF, utilizing its institutional-grade staking platform, Marinade Select. Marinade Select features SOC 2-compliant, non-custodial infrastructure and delegates to 30-40 KYC-verified validators to promote network decentralization and meet institutional compliance requirements.

If approved, the ETF would offer investors exposure to Solana (SOL) as well as staking rewards generated through Marinade Select. Marinade currently secures over 10 million SOL across its staking products. The SEC’s decision on the ETF is pending. Marinade has previously partnered with Bitwise Europe and Coinbase Prime. SOL is trading near $169.

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