• The Canary Marinade Solana ETF utilizes Marinade’s staking protocol within a regulated ETF structure

  • BitGo is the fund’s strategic infrastructure provider integrating qualified custody and staking to facilitate onchain rewards in a secure, compliant framework 

  • BitGo offers a full solution for ETF/ETP providers and has supported Canary Capital’s launch pace across multiple ETFs given its platform’s security, scalability, and operational maturity

BitGo has partnered with Canary Capital for the launch of its Canary Marinade Solana ETF (SOLC), 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 significant milestone, as BitGo’s integrated infrastructure provides the secure foundation that transforms Canary Capital’s and Marinade’s innovative product into an accessible, regulated financial product for investors. 

“BitGo’s infrastructure was purpose-built for digital assets, all under a regulated, secure, and scalable framework,” said Mike Belshe, CEO and Co-Founder of BitGo. “We’re not just powering today’s products; we’re helping build the foundation for the next generation of global financial infrastructure. Our partnership with Canary Capital shows that when innovation meets true operational integrity, anything is possible.”

Why This Matters

Canary Capital has established itself as a driving force in the regulated digital asset space, rapidly bringing a diverse collection of ETFs to market in the last month. BitGo has served as the operational foundation for these launches, highlighting the platform’s security, scalability, and operational maturity. 

“Bringing staking rewards into an ETF is exactly the frontier the market is ready for,” says Steven McClurg, CEO of Canary Capital. “BitGo’s infrastructure is key to making it possible, giving us the secure foundation to deliver sophisticated onchain capabilities to a wider universe of investors through a traditional fund wrapper that we believe will see strong demand.”

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.

How it Works: Integrating Custody and Staking

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 rapid ETF innovation, 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.

Looking Ahead

The partnership between BitGo, Canary Capital, and Marinade establishes how regulatory compliance and innovation can be successfully achieved in the digital asset market and showcases a multi-faceted achievement bringing digital assets mainstream worldwide. 

Connect with BitGo to learn more about our partnership or how our infrastructure can support your next product launch.

FAQ

What is SOLC?

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.

Who provides custody for SOLC?

BitGo Trust Company, Inc. serves as Canary Capital’s qualified custodian, providing regulated custody, multi-layer security, and support for staking-related operational workflows.

How does staking work within the ETF?

SOL is held in SOLC and staked through 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.

Why Solana?

Solana 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.

Does SOLC use derivatives or synthetic exposure?

No. SOLC is structured to hold spot SOL. Detailed information is available at etfs.canary.capital/solc directly.

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About BitGo

BitGo is the digital asset infrastructure company, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have been focused on accelerating the transition of the financial system to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, and millions of retail investors worldwide. For more information, visit www.bitgo.com.

©2025 BitGo, Inc. (collectively with its parent, affiliates, and subsidiaries, “BitGo”). All rights reserved. BitGo Trust Company, Inc., BitGo, Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA. BitGo does not offer legal, tax, or investment advisory services. The statements contained herein are only intended for marketing and informational purposes and should not be interpreted as legal, tax, or investment advice. Please consult your legal,tax,investment, or other professional advisor for questions about your specific circumstances. Digital asset holdings involve a high degree of risk, and digital asset values may fluctuate on any given day. Accordingly, your digital asset holdings may be subject to large swings in value and may even become worthless. The information provided herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law, statute, or regulation. BitGo is not directing this information to any person in any jurisdiction where the publication or availability of the information is prohibited, by reason of that person’s citizenship, residence, or otherwise. The information contained in our press releases, blogs, and presentations should be considered accurate only as of the date of the press release, blog, or presentation. We disclaim any obligation to supplement or update the information in these press releases, blogs, or presentations, except as may be required by law. Product availability and client eligibility will vary by jurisdiction. Services listed may be provided by one of BitGo's affiliated entities.