The firm Canary has renamed its Spot Solana ETF to Canary Marinade Solana ETF, forming a strategic partnership with Marinade Finance, Solana's largest liquid staking protocol.
Partnership between Canary and Marinade
Canary is now partnering with Marinade Finance to generate yield on SOL held in the fund. This collaboration signifies a new approach to staking investments, allowing traditional investors to earn returns without needing to manage wallets or navigate blockchain interfaces.
Importance of Marinade for Traditional Investors
Marinade Finance allows SOL holders to delegate their tokens across a decentralized set of validators, improving network security while earning rewards. Marinade's uniqueness lies in its mSOL token, which can be utilized in DeFi while still accruing yield.
Solana's Rise and Institutional Interest
As of Q2 2025, Solana ranks among the top blockchains by total value locked, with Marinade alone staking over 7 million SOL, worth more than $1.1 billion. This growth, combined with low fees and fast transaction speeds, is capturing institutional attention.
Canary's updated ETF filing indicates that the future of crypto investment products will not only mirror digital assets but also engage with ecosystems, providing investors with access to crypto-native returns without significant market risks.
