Canadian Solana and XRP ETFs Hit Record AUM
Canada’s innovative investment landscape has witnessed a surge in popularity for its altcoin exchange-traded funds (ETFs). Two standouts, SOLQ (Solana-focused) and XRPQ (XRP-focused), have recently smashed records, accumulating over C$300 million and C$150 million in assets under management (AUM), respectively. This remarkable achievement positions them as the leading ETFs in their respective categories within Canada.
The success of these ETFs highlights the growing institutional and retail investor demand for regulated exposure to Solana and XRP. SOLQ, launched in April and listed on the Toronto Stock Exchange, secured significant early investments from prominent firms like SkyBridge Capital and ARK Invest (via its ARKW and ARKF ETFs). This marks the first time US-listed ETFs have gained Solana staking rewards exposure through a Canadian vehicle. To further incentivize investment, SOLQ’s management fees are waived until April 2026.
XRPQ, launched in June 2025, followed a similar trajectory, attracting over C$150 million in AUM within its first six months, with a 0% management fee incentive. Notably, Ripple participated as an early investor. Pascal St-Jean, President and CEO of the ETF issuer, emphasized the significance of this achievement, highlighting investor confidence in secure and transparent access to digital assets.
The rise of SOLQ and XRPQ is part of a broader trend in Canada’s flourishing altcoin ETF market. Several issuers have introduced spot Solana ETFs, some including staking features and fee waivers, increasing competition and driving innovation. ARK Invest’s investment in SOLQ emphasizes its appeal as a regulated avenue to tap into both SOL price appreciation and its staking rewards.
Canada’s early adoption of crypto ETFs beyond Bitcoin and Ether contrasts with the US market, where a Solana ETF with staking is a recent development and spot XRP ETF applications await regulatory decisions. This discrepancy fuels international interest in Canadian listings, as evidenced by the recent surge in AUM for SOLQ and XRPQ. This situation is poised to remain compelling until the US regulatory landscape clarifies.
The launch of a Dogecoin ETF by REX-Osprey this week further underscores the growing excitement around alternative cryptocurrency investments in Canada and beyond.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Cryptocurrency investments are inherently risky.