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Apr 22, 2025

Evolve's Sixth Crypto ETF

One of our first ever ETF clients, $7bn-plus AuM Evolve, has also opted to utilize our Solana benchmark methodology, this time integrating the regulated CME CF Solana-Dollar Reference Rate (SOLUSD_RR) into its latest fund, Evolve Solana ETF (tickers: SOLA, SOLA.U).

The slightly different benchmark name compared to SOLUSD_NY denotes SOLUSD_RR is the 4 pm London Time SOL reference price variant, while SOLUSD_NY, is the 4 pm New York Time SOL reference price variant. As per all CF Benchmarks ‘time zone’ variants, SOLUSD_RR and SOLUSD_NY are identical, apart from their reference times.

Evolve Solana ETF also provides direct, passive exposure to spot SOL, with Evolve stressing it is eschewing the use of derivatives within the fund.

The fund is available in both CAD units (ticker: SOLA) and USD units (SOLA.U) with both provided on an unhedged currency basis. Aside from currency denomination, both series are identical constituents of the same fund.

Meanwhile, the firm states that, subject to regulatory approval, the ETF intends to target staking of up to 50% of SOL holdings.

CFB-powered

SOLA is the latest in a lengthening list of CF Benchmarks-supported Evolve ETFs, including one of North America’s earliest Bitcoin ETFs, an Ether fund as well as the region’s first exchange traded BTC and ETH portfolio; plus leveraged Ether and Bitcoin fund alternatives. We’re proud to note that all the firm’s cryptocurrency vehicles utilize CF Benchmarks’ regulated pricing methodology for NAV calculation.


The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.


Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.


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