Canary Capital Moves to Solana

🟡Crypto investment firm Canary Capital has filed an application with the SEC to register a spot ETF based on Solana. The document states that the firm aims to provide access to Solana’s (SOL) price, which will be held by the Trust.

🟡The company highlighted Solana’s well-developed DeFi ecosystem and its advantages, including robust on-chain activity and low fees for users. SOL currently ranks fifth in market capitalization on CoinGecko, with a value of $82.23 billion.

🟡Previously, in October, Canary Capital filed applications to launch spot ETFs based on Ripple’s XRP and Litecoin. In June, investment firm VanEck also submitted a form to the SEC for registering a Solana-based exchange-traded fund.