ARK Invest buys into Solana through a Canadian ETF as U.S. spot approval remains absent

# ARK Invest buys into Solana through a Canadian ETF as U.S. spot approval remains absent

Standfirst: ARK Invest has become the first U.S.-listed asset manager to gain ETF exposure to Solana by buying shares of a Canadian fund, highlighting how investors are working around the lack of a U.S. spot Solana product.

ARK Invest has moved into Solana exposure through a Canadian-listed exchange-traded fund, marking the first time a U.S.-listed asset manager has gained ETF exposure to the cryptocurrency in this way, according to the evidence packet.

The purchase was made through two of ARK’s actively managed funds, the ARK Next Generation Internet ETF and the ARK Fintech Innovation ETF. Each bought 237,500 shares of 3iQ’s Solana ETF, a vehicle listed in Canada. The move matters because it gives the Cathie Wood-led firm a route into Solana without waiting for a U.S. spot Solana ETF, which has not yet been approved by regulators.

The Canadian fund itself is built around direct exposure to Solana and includes staking rewards, making it a more specific crypto instrument than broad equity exposure to blockchain companies. The evidence says it is currently the only regulated Solana investment vehicle of its kind available in North America. That detail helps explain why a U.S. firm would turn to Canada to access the asset.

The timing also fits a wider push by traditional asset managers to expand their digital-asset offerings. ARK already has exposure to Bitcoin and Ethereum-related products, and its crypto strategy has gone beyond simple theme investing. The evidence packet says the firm also holds 3iQ’s Ether Staking ETF and runs the ARK 21Shares Bitcoin ETF in the United States.

For now, the Solana trade is an indirect one. It shows how issuers and investors are adapting to the regulatory gap between the U.S. and Canada, where spot crypto ETFs have moved faster. The packet also notes that several other crypto ETFs are under review in the U.S., including funds tied to XRP, Litecoin and Dogecoin, while Solana futures trading on the Chicago Mercantile Exchange has increased expectations that a U.S.-listed Solana ETF could eventually follow.

The key commercial point is that ARK has not changed the regulatory reality in the United States. It has, however, made use of an available product in another market to gain exposure to a token that remains without a U.S. spot ETF wrapper. For a firm built on identifying new investable themes early, the purchase is consistent with its broader approach to crypto and innovation.

The Canadian listing also underscores how cross-border fund markets can shape investor access. When a product is unavailable in one jurisdiction, firms can sometimes use a foreign listing as a bridge. In this case, Solana has become the latest example of that workaround.

The evidence packet does not indicate any immediate U.S. filing by ARK tied directly to Solana. What it does show is a practical step: buying a Canadian ETF to secure exposure now, while the U.S. approval process continues to lag behind the market’s appetite for crypto-linked products.