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Canada’s latest altcoin exchange-traded funds have raced to class management, with the Solana-focused SOLQ crossing C$300 million in property underneath administration (AUM) and the XRP-focused XRPQ topping C$150 million, based on a Tuesday announcement. The issuer mentioned each funds now maintain the biggest AUM of their respective classes amongst Canadian friends, underscoring a pointy acceleration in institutional and retail demand for regulated publicity to Solana and XRP.
Investor Demand Surges For 3iQ’s SOL And XRP ETFs
SOLQ, a Toronto Inventory Alternate–listed Solana staking ETF that debuted in April, benefited from marquee early allocations. The agency disclosed a lead funding from SkyBridge Capital and extra commitments from ARK Make investments, which purchased SOLQ by way of its ARKW and ARKF ETFs—strikes it touted as the primary US-listed ETFs to achieve publicity to Solana and its staking rewards through a Canadian car. Administration charges on SOLQ stay waived till April 2026, the issuer added.
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XRPQ launched in June and, with a 0% administration payment for its first six months, has rapidly scaled to greater than C$150 million AUM; the Toronto Inventory Alternate’s new-issuer log exhibits the product coming to market on June 18, 2025. The issuer mentioned Ripple participated as an early investor.
“The momentum behind SOLQ and XRPQ demonstrates that Canadian traders and international leaders within the digital asset area are embracing safe, clear, and controlled entry to digital property,” mentioned Pascal St-Jean, the issuer’s president and CEO. “Because the market leaders, these ETFs exemplify [our] dedication to assembly investor demand whereas setting a benchmark for innovation within the international market.”
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The rise of those funds comes amid a broader wave of Canadian altcoin ETF launches this 12 months. A number of issuers have launched spot Solana merchandise—some with staking options and introductory payment waivers—whereas the home XRP lineup has additionally expanded, making a aggressive area in opposition to which SOLQ and XRPQ now declare the AUM crown.
Institutional signaling has been a secondary driver. ARK’s buy framed SOLQ as a car for capturing each SOL value efficiency and on-chain staking economics in a regulated wrapper. “Solana represents a high-performance blockchain infrastructure with vital potential for decentralized functions and finance,” ARK’s Cathie Wooden mentioned when confirming the funding earlier this 12 months.
Contextually, Canada stays a primary mover on listed crypto exposures past bitcoin and ether. In america, traders solely lately gained a Solana ETF with staking economics through the REX-Osprey SSK product, whereas a number of US spot XRP ETF filings await regulatory selections later in 2025—developments that assist clarify the cross-border curiosity in Canadian listings within the interim. A SSK-style Dogecoin ETF by REX-Osprey is about to launch this Thursday.
At press time, XRP traded at $2.955.
Featured picture created with DALL.E, chart from TradingView.com
