The world of digital asset investing has taken a significant leap forward with the launch of the CI Galaxy Solana ETF (SOLX), now trading on the Toronto Stock Exchange under tickers SOLX.B and SOLX.U. Backed by CI Global Asset Management (CI GAM) in partnership with Galaxy Asset Management, this new exchange-traded fund offers investors direct exposure to Solana (SOL), one of the fastest-growing and most innovative blockchain ecosystems.
What sets SOLX apart is its 0% management fee for the first three months, a bold move by CI GAM to make digital asset investing more accessible. The standard management fee of 0.35% will be fully waived until July 16, 2025, giving investors a cost-effective entry point into the Solana ecosystem.
Direct Exposure to Solana and Staking Rewards
Unlike traditional financial products, the CI Galaxy Solana ETF invests directly in Solana tokens (SOL), positioning investors at the heart of decentralized finance innovation. Solana is renowned for its high-speed transactions, low fees, and scalable infrastructure—making it a preferred platform for decentralized applications (dApps), non-fungible tokens (NFTs), smart contracts, and web3 development.
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The ETF offers two share classes:
- SOLX.U: U.S. dollar-denominated unhedged units
- SOLX.B: Canadian dollar-denominated unhedged units
This dual-currency structure ensures flexibility for both domestic and international investors seeking exposure to SOL without the complexities of managing cryptocurrency wallets or exchanges.
Expert Management and Institutional-Grade Security
The fund is managed by CI GAM, one of Canada’s largest investment firms, with sub-advisory services provided by Galaxy Asset Management, a global leader in digital asset investment strategies. Galaxy not only executes all SOL trading but also facilitates staking arrangements on behalf of the ETF—unlocking additional yield potential.
Staking allows the ETF to participate in securing the Solana network by validating transactions. In return, staking generates additional SOL tokens as rewards. Of these net staking rewards:
- At least 65% accrue directly to the ETF and its unitholders
- Up to 35% are retained by CI GAM as manager
This model aligns incentives while ensuring investors benefit from passive income opportunities inherent in proof-of-stake blockchains like Solana.
Why Solana? Speed, Scalability, and Innovation
Solana has emerged as a core blockchain network driving change across multiple sectors:
- Decentralized Finance (DeFi): Enables lending, borrowing, and yield farming without intermediaries.
- Web3 Platforms: Powers next-generation user-owned internet experiences.
- NFT Marketplaces: Hosts digital art, collectibles, and virtual assets.
- Decentralized Physical Infrastructure (DePIN): Supports real-world applications like decentralized wireless networks.
With its ability to process up to 65,000 transactions per second and average transaction costs under $0.01, Solana provides unmatched efficiency compared to older blockchain platforms.
Transparent Pricing and Institutional Oversight
The ETF’s holdings are priced using the Bloomberg Galaxy Solana Index, a regulated benchmark designed to reflect the performance of a single SOL token traded in U.S. dollars. This index is administered by Bloomberg Index Services Limited, ensuring transparency, accuracy, and alignment with institutional standards.
Additionally, SOL holdings are stored in offline cold storage through trusted sub-custodians—adding a critical layer of security against cyber threats.
“As an ETF, SOLX provides a convenient and transparent way to invest in SOL and SOL staking,” said Jennifer Sinopoli, Executive Vice-President and Head of Distribution at CI GAM. “Investors benefit from liquidity, real-time pricing, eligibility for registered plans, and the professional management provided by CI GAM and Galaxy.”
A Growing Lineup of Digital Asset Solutions
CI GAM has established itself as a pioneer in the digital asset space. It was the first company globally to launch both an Ethereum ETF and mutual fund. Through its strategic partnership with Galaxy, CI GAM now offers one of the most comprehensive suites of cryptocurrency investment products in Canada:
- CI Galaxy Bitcoin ETF and CI Bitcoin Fund
- CI Galaxy Ethereum ETF and CI Ethereum Fund
- CI Galaxy Multi-Crypto ETF
- CI Galaxy Blockchain Index ETF
This latest addition—SOLX—further strengthens CI GAM’s position as a leader in institutional-grade digital asset solutions.
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Key Benefits of Investing in SOLX
- No Management Fees Until July 2025 – A limited-time waiver reduces investor costs significantly.
- Direct Ownership of SOL – No need for self-custody or exchange accounts.
- Staking Rewards Included – Earn additional yield without managing validators.
- Registered Account Eligibility – Can be held in RRSPs, TFSAs, and other tax-advantaged plans.
- Liquidity & Transparency – Tradeable on TSX with daily NAV reporting.
- Professional Oversight – Backed by two industry-leading firms with deep crypto expertise.
Frequently Asked Questions (FAQ)
Q: What is the CI Galaxy Solana ETF?
A: It’s an exchange-traded fund that provides investors with exposure to Solana (SOL) tokens through a regulated, transparent investment vehicle listed on the Toronto Stock Exchange.
Q: Is there a management fee?
A: The standard fee is 0.35%, but it has been fully waived until July 16, 2025—meaning investors pay 0% management fees during this period.
Q: How does staking work within the ETF?
A: The ETF stakes a portion of its SOL holdings to help secure the Solana network. Rewards earned are distributed so that at least 65% go back to unitholders.
Q: Can I hold SOLX in my TFSA or RRSP?
A: Yes, the ETF is eligible for registered accounts including TFSAs, RRSPs, RESPs, and more.
Q: How is the value of the ETF determined?
A: The net asset value (NAV) is based on the Bloomberg Galaxy Solana Index, which tracks the price of one SOL in USD.
Q: Is investing in SOLX risky?
A: Yes. Like all digital assets, SOL is highly volatile and speculative. Investors should only allocate funds they can afford to lose.
Final Thoughts: A Gateway to Next-Gen Finance
The launch of the CI Galaxy Solana ETF marks a pivotal moment in mainstream crypto adoption. By combining institutional oversight, fee-free access, and built-in staking rewards, SOLX lowers barriers for everyday investors while maintaining robust security and regulatory compliance.
Whether you're exploring digital assets for the first time or expanding your crypto portfolio, SOLX offers a professionally managed, liquid, and tax-efficient way to gain exposure to one of the most dynamic blockchains today.
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As decentralized finance continues to evolve, products like SOLX ensure that innovation remains accessible—not just to tech-savvy traders, but to all investors seeking growth in the digital economy.