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.