Solana and XRP ETFs Break Records in Canada, Surpass C$450M AUM

• The Solana-focused SOLQ has surpassed C$300 million in assets under management (AUM), while the XRP-focused XRPQ has topped C$150 million
• Both ETFs benefited from early support, including a lead investment from SkyBridge Capital and ARK Invest backing for SOLQ
• Management fees are being waived for both funds, until April 2026 for SOLQ and during its first six months for XRPQ

Canada’s newest altcoin ETFs are setting benchmarks. The Solana-focused SOLQ has surpassed C$300 million in assets under management (AUM), while the XRP-focused XRPQ has topped C$150 million. Together, they now account for the largest regulated altcoin ETFs in the country.

Both ETFs launched this year, with SOLQ in April and XRPQ in June. Each benefited from early support, including a lead investment from SkyBridge Capital and ARK Invest backing for SOLQ.

Notably, management fees are being waived for both funds – until April 2026 for SOLQ and during the first six months for XRPQ. Ripple is also reported to be an early investor in XRPQ. 

All of this shows that more and more big companies and users want an easy and official way to invest in Solana and XRP.

Related: SOL Strategies Expands Global Investor Access With Nasdaq STKE Listing

ETF Flows Boost Canadian Crypto Market

Going by the data from last month, in the first half of 2025, Canadian ETFs drew a record C$55.9 billion in inflows, which already surpassed total annual inflows from 2024. Crypto ETFs alone pulled in approximately C$332 million, led by Solana and XRP products (C$195M and C$78M, respectively).

Naturally, this helped spark a wave of innovation, leading to the introduction of new crypto-linked ETFs that feature single-asset, staking-enabled, and leveraged structures.

Interestingly, the data and today’s developments point to Canada leading North America in regulated digital asset offerings. 

Related: Bitcoin ETFs See $246 Million Inflows, But Overall Market Remains Cautious

Wallet-free investment vehicles like SOLQ and XRPQ are helping to channel institutional and retail capital into altcoins in a controlled and compliant framework. Plus, ARK Invest’s involvement in SOLQ (marked by public backing) further boosts credibility. 

For investors seeking altcoin exposure via ETFs, these products now offer one of the most accessible and streamlined pathways.

Canada Pulls Ahead of the U.S.

Contrary to Canada, the US market remains focused almost entirely on Bitcoin and Ethereum spot ETFs. Despite billions flowing into US BTC ETFs since January 2024, the SEC has yet to approve ETFs tied to altcoins such as Solana, XRP, or Cardano.

This contrast highlights Canada’s regulatory flexibility, which enables the country to attract both institutional and retail investors who want to invest in a variety of cryptocurrencies.

If the US eventually expands its ETF offerings beyond Bitcoin and Ethereum (something that many believe is bound to happen at one point), global demand could surge even higher.