Canary Capital, the crypto-focused investment firm behind multiple exchange-traded funds, has named Marinade Select as its staking provider for the Canary Marinade Solana exchange-traded fund.
Marinade Labs, a development company that helped bring the first Solana (SOL) staking protocol to market, is Canary Capital’s staking provider for the Canary Marinade Solana ETF, the firms said in an announcement shared with crypto.news.
Canary Capital named the platform as its provider in an amended filing with the U.S. Securities and Exchange Commission.
According to Canary Capital’s amended S-1 filing, the asset management firm’s Solana ETF will tap into Select’s technology for the security and compliance of its highly anticipated ETF.
Marinade Select is an institutional-grade platform designed to offer access to staking solutions with zero tolerance for malicious maximal extractable value.
“Being selected as the exclusive staking provider for a U.S. Solana ETF is not just a milestone for us at Marinade, but it’s a major achievement for compliant, institutional-grade staking as a whole,” said Michael Repetný, chief executive officer of Marinade Labs.
“With Marinade Select, we’re creating a smarter path for institutional stakers, one that aligns high performance with compliance.”
The offering of Marinade Select is separate from Marinade’s native staking product. Select specifically targets institutional clients seeking a greater focus on compliance, performance, and security. Since its launch, Marinade has handled over 10 million SOL, or $2 billion worth of staked assets.
The platform recently integrated with BitGo, a milestone that enabled it to expand Solana staking to institutions.
While the partnership with BitGo allows for expanded staking access for institutional investors, Marinade Native offers integration with Copper and Zodia.
Canary Capital’s traction in the digital asset investment market includes recent ETF filings for Sui, Hedera, Tron and Litecoin. The firm also filed for an ETF for Pudgy Penguins.
