##  [# Canary Amends SOL ETF S-1, Lists Exclusive Staking Provider](/sections/news/canary-amends-sol-etf-s-1-lists-exclusive-staking-provider) 

 

# Canary Amends SOL ETF S-1, Lists Exclusive Staking Provider

 

 

\- Canary has amended its S-1 filing with the SEC for its SOL ETF  
\- Staking refers to a method in which crypto investors can earn rewards on their investments via a blockchain network.



 

 

 

 

 [![Malika](/sites/default/files/styles/author_image_icon/public/2025-03/Headshot%203.png?itok=STS0LyKG)](/authors/mallika-mitra) 

[By Mallika Mitra](/authors/mallika-mitra)

 May 21, 2025

 Edited by: David Tony

 

 

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Canary Capital Group has amended its [S-1 filing](https://www.sec.gov/Archives/edgar/data/2041869/000199937125006485/canary-s1a_052125.htm) 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 etf.com. In a statement posted to its [website](https://marinade.finance/blog/marinade-named-exclusive-staking-provider-for-us-solana-etf), 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.

## The State of Solana ETFs

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](https://www.etf.com/topics/ethereum) and [Bitcoin ETFs](https://www.etf.com/topics/bitcoin), firms have been clamoring to bring a spot SOL ETF to the U.S. market.

[Fidelity Investments](https://www.etf.com/topics/fidelity), for example, is looking to [debut](https://www.etf.com/sections/news/fidelity-looks-add-spot-solana-etf-crypto-offerings) 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](https://www.coindesk.com/markets/2025/04/17/solana-surges-4-5-as-canada-launches-first-spot-etfs) in Canada last month.

 
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## What is the Canary Marinade Solana ETF?

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 filing.



 

 

 [ Mallika Mitra ](/authors/mallika-mitra) 

 

 

  Mallika Mitra is an experienced business and financial journalist. Her work can be found in Barron's, Kiplinger, CNBC, Bloomberg News, Bankrate, USA…   [View Bio](/authors/mallika-mitra)

 



 

 


 Related Topics  [Crypto](http://www.etf.com/topics/cryptocurrency) 

 [Crypto ETFs](http://www.etf.com/topics/crypto-etfs) 

 [Fidelity](http://www.etf.com/topics/fidelity) 

 [Cboe Global Markets](http://www.etf.com/topics/cboe-global-markets)