Frequently Asked Questions
What is Solana?
Solana is a blockchain platform known for its fast transaction speed and low cost. Learn more here.
What is SOL?
SOL is the native cryptocurrency used on the Solana blockchain.
What is a Solana ETF?
A Solana ETF is an exchange-traded fund that lets investors gain secure exposure to Solana without having to invest directly on the blockchain or bother with digital wallets. You can hold ETFs in your TFSA or RRSP.
Who is this ETF designed for?
The Purpose Solana ETF may be suitable for:
- Growth-oriented investors seeking exposure to next-generation blockchain technology
- Crypto investors looking beyond BTC and ETH
- Yield-seeking investors interested in blockchain-native income
- Advisors looking to round out a digital asset sleeve in a diversified portfolio As always, we recommend talking to a financial advisor and reading the prospectus before investing in anything—especially crypto, as it can be so volatile.
Will this ETF offer staking rewards?
Yes! With the Purpose Solana ETF, we’re giving investors efficient, regulated access to this rapidly growing Solana ecosystem — with the added benefit of built-in staking capabilities designed to offer investors better returns.
How does Solana differ from Bitcoin or Ethereum?
Solana is most similar to Ethereum as they’re both blockchain platforms that support decentralized applications whereas Bitcoin, as a digital currency, is a store of value. Solana’s high-speed transactions give it an edge over Ethereum for supporting applications that require fast processing, such as NFTs.
What are the advantages of investing in the Purpose Solana ETF over investing in Solana directly?
ETFs allow you to get exposure to digital assets through a traditional secure investment vehicle. It’s simple to buy and trade and you can hold ETFs in your TFSA or RRSP. We think of crypto ETFs as the best of both worlds: a bridge from traditional finance to the future.
What are the risks associated with investing in a Solana ETF?
Digital assets are new and volatile investments. It’s important to do your research and talk to a financial advisor before you invest.
How is the SOL held by the ETF stored?
Your SOL is safely held with Gemini Trust Company and Coinbase Custody Trust Company, licensed New York State trust companies that undergo regular bank exams and cybersecurity audits. Day-to-day, your SOL is held in Purpose’s secure, offline wallets, which are disconnected from the internet, significantly reducing the risk of theft.
Can I purchase this in my RRSP or TFSA?
Absolutely! One of the main reasons we’re driving innovation in the crypto ETF space is to give investors the ability to gain access to assets like Solana through registered accounts.
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. The prospectus contains important detailed information about the investment fund. Copies of the prospectus are available from purposeinvest.com. Please read the prospectus before investing. There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. The indicated rate of return is the historical annual compounded total return including changes in share/unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns.
This information is provided for illustrative and discussion purposes only. This material is not intended as a formal research report and should not be relied upon as a basis for making an investment decision. Historical trends do not imply, forecast or guarantee future results. Information is as of the date indicated and subject to change without notice. Nothing herein constitutes a prediction or projection of future events or future market behavior.
If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Crypto assets can be extremely volatile and there is no guarantee that the amount invested will be returned to you.