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Canary Updates S-1 Filing for Spot Solana ETF With 0.50% Fee

Canary Capital’s updated filings for Solana and XRP spot ETFs, with a 0.50% fee, signal progress toward SEC approval, with other crypto ETFs awaiting review.

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Summary

On October 10, 2025, U.S. investment firm Canary Capital updated its registration filings for its XRP and Solana (SOL) spot ETFs, setting the management fee at 0.50%. The firm’s amendment for the Solana ETF confirms no reduction in staking rewards, marking a significant step towards SEC approval. Other cryptocurrency ETF applications, including those for Dogecoin and Litecoin, are also pending.

Terms & Concepts
  • S-1 Filing: A registration statement filed with the U.S. SEC by companies planning to go public or launch certain investment products, detailing the offering and related information.
  • Spot Solana ETF: An exchange-traded fund designed to track the price of Solana (SOL) directly, holding the cryptocurrency rather than derivatives.
  • Expense Ratio: The annual fee charged by an investment fund, expressed as a percentage of assets under management, covering operational and management costs.