在美國推出的兩個ETF跟踪Solana期貨

兩個ETF跟踪3月在美國推出的Solana期貨，但這些資金通過跟踪Solana Futures合同的價格提供了間接接觸數字資產的機會。

The Canadian market on Monday saw the launch of four new ETFs tracking the price of Solana (SOL), an event that marks a milestone in North America.

週一，加拿大市場推出了四個新的ETF，跟踪了Solana（Sol）的價格，該活動標誌著北美的一個里程碑。

The U.S. is yet to see the launch of any such funds, despite several asset managers filing for them with the Securities and Exchange Commission (SEC). Meanwhile, Canada has raced ahead to launch both spot bitcoin and spot ether ETFs in 2021, while the U.S. is still awaiting the launch of such products.

儘管有幾位資產經理向美國證券交易委員會（SEC）申請了幾家資產經理，但美國尚未看到任何此類資金的推出。同時，加拿大在2021年推出了現場比特幣和現場Ether ETF，而美國仍在等待此類產品的推出。

“We are very proud and excited that Canada is [a leader] again in crypto,” said Vlad Tasevski, chief innovation officer with Purpose, in an interview with Blockworks.

“我們為加拿大再次成為加密貨幣的領導者而感到自豪和興奮，”有目的的首席創新官Vlad Tasevski在接受Blockworks採訪時說。

What is Solana?

什麼是Solana？

Launched in 2020, Solana is a public blockchain platform designed for decentralized applications and crypto transactions. SOL is the native cryptocurrency of the network, used in transactions and staking.

Solana於2020年推出，是一個公共區塊鏈平台，旨在分散應用程序和加密交易。 SOL是該網絡的本地加密貨幣，用於交易和占有。

Solana also hosts several meme coins, such as the Trump meme coin, $TRUMP.

Solana還主持了幾枚模因硬幣，例如Trump Meme Coin，Trump $。

“It has multiple verticals, like [non-fungible tokens], gaming, storage, it facilitates transactions,” said Geraldo Ferreira, senior vice-president and head of investment products and manager oversight with CI GAM.

“它具有多個垂直領域，例如[不可殺死的代幣]，遊戲，存儲，它有助於交易，” CI GAM的高級副總裁兼投資產品負責人兼經理監督杰拉爾多·費雷拉（Geraldo Ferreira）說。

Solana is known for delivering faster and cheaper transactions than rival blockchains like Ethereum. However, Solana has experienced network outages and a major hack in the past, which critics see as a trade-off for its speed, with some calling the security of the platform into question.

索拉納（Solana）以比以太坊（Ethereum）這樣的競爭對手區塊鏈提供更快，更便宜的交易而聞名。但是，Solana過去曾經歷過網絡中斷和重大黑客攻擊，批評者將其視為其速度的權衡，有些人對平台的安全感到疑惑。

Moreover, like other cryptocurrencies, SOL is volatile. Its price can fluctuate significantly due to various factors such as regulatory changes, technological advancements and overall market sentiment.

此外，像其他加密貨幣一樣，SOL揮發了。由於各種因素，例如監管變化，技術進步和整體市場情緒，其價格可能會顯著波動。

How do the four new Solana ETFs differ?

四個新的Solana ETF有何不同？

The new funds from 3iQ, Evolve, CI GAM and Purpose are similar, although they vary in staking approaches, management fees and other ways.

來自3IQ，Evolve，CI GAM和目的的新基金是相似的，儘管它們在堆放方法，管理費和其他方式方面有所不同。

“Our fund and our competitors’ funds, we’re all holding physical SOL, so there’s no difference in the underlying asset,” said Elliot Johnson, chief investment officer and chief operating officer with Evolve.

“我們的基金和競爭對手的資金，我們都持有物理溶膠，因此基礎資產沒有任何區別，” Evolve首席投資官兼首席運營官埃利奧特·約翰遜（Elliot Johnson）說。

“It really has more to do with the packaging.”

“這確實與包裝有關。”

In addition to providing spot Solana exposure, all four funds intend to stake a portion of their SOL holdings in order to earn rewards of additional SOL tokens.

除了提供現場索拉納的曝光外，所有四個基金都打算將其部分溶膠持有量存儲起來，以贏得額外的溶膠令牌的獎勵。

Staking is part of a process that validates transactions and helps to secure blockchain networks like Solana and Ethereum, said Josh Deems, head of sales, Americas with Toronto-based institutional staking provider Figment, which 3iQ selected as the primary staking provider for its fund, the Solana Staking ETF (TSX: SOLQ).

Solana Staking ETF（TSX：solq）說，Staking是驗證交易的過程的一部分，該過程驗證交易，並有助於確保Solana和Ethereum等區塊鍊網絡，例如Solana Staking ETF（TSX：SOLQ），Americas的銷售負責人Josh Deems，Americas的Americans銷售負責人Josh Deems。

“Let’s say you have one Solana [token] per share at the launch. The idea is you’re going to have more Solana per share over time, because there are going to be rewards that accrue to the fund. So, there’s going to be a larger pool of Solana based on the same amount of units,” Deems explained.

“假設您在發布會上每股有一個Solana（令牌）。想法是，隨著時間的推移，您將擁有更多的每股索拉納，因為將會獲得該基金的獎勵。因此，基於相同數量的單位，將會有一個更大的Solana池，” Deems解釋說。

“Secondary to that is the security to the network. You’re actively making sure that that network is running effectively by using an ETF that’s staking the asset. The knock-on effect is the financial reward, but also, … you’re directly contributing to the operability of that particular network.”

“其次是網絡的安全性。您正在積極確保該網絡通過使用存儲資產的ETF有效地運行。敲門效應是財務獎勵，而且……您直接為該特定網絡的可操作性做出了貢獻。”

There are different approaches to staking, though. For one, Evolve has noted that it intends to initially target staking of up to 50% of the Solana tokens held in the portfolio of its fund, the Evolve Solana ETF (TSX: SOLA, SOLA.U). Meanwhile, CI GAM has said that as the manager of the CI Galaxy Solana ETF (TSX: SOLX), it’s entitled to up to 35% of the net rewards from staking, while no less than 65% will accrue to the ETF.

但是，有不同的方法。一方面，Evolve指出，它打算最初以其基金投資組合中的索蘭納代幣的50％的目標瞄準，Evolve Solana ETF（TSX：Sola，Sola.u）。同時，CI GAM表示，作為CI Galaxy Solana ETF（TSX：SOLX）的經理，它有權獲得淨球淨獎勵的35％，而不少於65％的淨獎勵將獲得ETF。

Staking has potential downsides and risks, including liquidity lockups.

Staking具有潛在的弊端和風險，包括流動性鎖定。

Management fees are another differentiator.

管理費是另一個區別。

3iQ’s SOLQ will have a 0% management fee for the first 12 months (possibly longer), with the fee becoming 0.15% thereafter, said Greg Benhaim, executive vice-president of products and head of training with 3iQ.

3IQ的執行副總裁兼3IQ培訓主管Greg Benhaim表示，3IQ的SOLQ將在頭12個月（可能更長）的前12個月（可能更長）獲得0％的管理費。

CI GAM has waived the fee of SOLX until July 16, so the fund will have a 0% management fee until that day, when it will be 0.35%.

CI GAM已免除SOLX的費用，直到7月16日，因此該基金將收取0％的管理費，直到那天為0.35％。

Evolve has waived the management fee of SOLA (the Canadian-dollar unhedged version of the fund) and SOLA.U (the U.S.-dollar version of the fund) for the remainder of 2025. As of Jan. 1, 2026, a 1.00% management fee will apply to the fund.

Evolve在2025年剩餘的時間內放棄了Sola（基金的加拿大違反版本）和Sola.u（基金的美國價版本）的管理費。截至2026年1月1日，該基金將適用1.00％的管理費。

The Purpose Solana ETF (TSX: SOLL) has a 0.39% management fee.

目的Solana ETF（TSX：SOLL）的管理費為0.39％。

There are some other notable differences.

還有其他一些顯著差異。

That includes different approaches to staking infrastructure. For example, 3iQ

這包括不同的基礎設施方法。例如，3iq