Ark Invest, led by Cathie Wood, became the first US registered asset manager to touch Solana via ETF. Two of the funds, the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF), have purchased 237,500 shares each of the 3IQ Solana ETF (SOLQ), listed in Canada. The investment follows recent approval by Canadian regulators of several spot Solana ETFs, including 3IQ, which began trading on the Toronto Stock Exchange on April 16th.
The 3IQ Solana ETF allows investors to get direct contact with Solana while earning rewards for dyeing. It is the only regulated investment vehicle of its kind for Solana currently available in North America. The Solana ETF has not yet been approved in the US, but the move is an indirect way that US investors can access Solana via listed funds.
Solana is the second largest blockchain by locked total values (TVL). Standing It’s over $7 billion, lagging behind Ethereum’s $45 billion. Known for its fast, low-cost transactions, Solana has emerged as one of the top blockchains for decentralized applications. Despite past network outages, we continue to see a growing adoption and developer interest.
ARK funds that have invested (ARKW and ARKF) are actively managed with a focus on disruptive innovation and financial technology.
They already hold positions in companies such as Coinbase, Robinhood, Block and more. By adding SOLQ, they expand their exposure to crypto beyond Bitcoin and Ethereum. ARK also holds positions in the 3IQ ether staking ETF and manages the ARK 21Shares Bitcoin ETF (ARKB).
This step reflects a broader trend of increasing institutional interest in digital assets. While several traditional companies are exploring crypto trading services, additional crypto ETFs, including assets such as XRP, Litecoin, and Dogecoin, are currently under review by US regulators. The launch of Solana futures at the Chicago Mercantile Exchange has raised expectations that US-registered Solana ETFs could be approved in the future.
While regulatory uncertainty remains a hurdle in the US, asset managers are finding workarounds by leveraging Canadian offerings. The US regulatory environment is slowly changing, with institutions such as the SEC, CFTC and FDIC aiming to streamline their approach to digital assets. For now, Ark’s 3IQ Solana ETFs provide a legitimate route to gain exposure to Solana, strengthening its position as the leading crypto investment vehicle within traditional finance.
