BitGo has recently partnered with Canary Capital for the roll-out of its Canary Marinade Solana ETF (SOLC), which is a spot ETF that incorporates Marinade’s staking protocol to provide investors with exposure to Solana (SOL) while participating in the network’s staking rewards.
This launch marks a key milestone, as BitGo’s infrastructure now offers the foundation that transforms Canary Capital’s and Marinade’s product into an accessible, regulated financial product.
Canary Capital has reportedly established itself as a force in the digital asset space, “bringing a collection of ETFs to market.”
BitGo has served as the operational foundation for these launches, highlighting the platform’s “security, scalability, and operational maturity.
As the Solana ecosystem continues to expand, the launch of SOLC confirms market demand and offers institutions and investors “a regulated pathway to engage with the network’s performance and activity.”
SOLC is built on the technical achievement of integrated regulated qualified custody with “the dynamic nature of a decentralized protocol.”
BitGo Trust Company, Inc. (BitGo Trust) provides the operational framework that safeguards the fund’s SOL while also “enabling its investors to earn staking rewards directly from regulated qualified custody.”
BitGo Trust’s multi-layer security and $250M in insurance in the event of loss, theft, or misuse of keys, combined “with Marinade’s decentralized staking model delivers confidence to investors.”
With Marinade’s model, staked assets are distributed “across a broad validator set and maintains liquidity for SOL within the Solana network.”
This allows the funds to participate in staking rewards while “preserving alignment with Solana’s design principles, maintaining liquidity and operational simplicity.”
The launch of SOLC builds on Canary Capital’s ETF updates, including the Canary Litecoin ETF (LTCC), Canary HBR ETF (HBR), and Canary XRP ETF (XRPC). Each product relies on BitGo’s infrastructure to meet “the security and scalability requirements of institutional-grade offerings.”
The partnership between BitGo, Canary Capital, and Marinade establishes how regulatory compliance can now be “achieved in the digital asset market and showcases a multi-faceted achievement bringing digital assets mainstream worldwide. ”
SOLC is a spot Solana ETF launched by Canary Capital. It provides exposure to SOL while participating in “staking rewards through Marinade’s staking protocol.”
As mentioned in the announcement, BitGo Trust Company, Inc. serves as Canary Capital’s qualified custodian, providing “regulated custody, multi-layer security, and support for staking-related operational workflows.”
As stated in the blog post, SOL is held in SOLC and staked via Marinade, which distributes stake “across validators and returns staking rewards to the ETF structure.” This allows the fund to “reflect network activity while maintaining liquidity and operational simplicity.”
As explained in a blog post by BitGo, Solana reportedly offers high throughput, low transaction costs, and “broad developer adoption across payments, DeFi, and onchain applications.”
SOLC is designed to align with these “network characteristics.”
As clarified in the update , SOLC does not use derivatives or synthetic exposure.
Rather, it is said to be “structured to hold spot SOL.”
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