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Canary Marinade Solana ETF reported net assets of $1,470,635 at June 30, 2026, with 100,000 shares outstanding and a NAV of $14.71 per share. The Trust held 19,976 SOL, valued using Level 1 quoted market prices, with essentially all SOL staked.
Net assets declined from $1,926,808 and NAV per share from $24.09 at December 31, 2025, reflecting a -38.92% total return at NAV for the six months as the SOL price fell 40.75% to $73.62. Operations produced a net decrease in net assets of $678,848, driven by $684,292 of unrealized depreciation and $34,177 of realized losses, partially offset by $39,621 of staking income. During the period, 40,000 shares were created and 20,000 redeemed, increasing net shares by 20,000. The Sponsor waived its 0.50% annual Sponsor Fee through June 30, 2026; from July 1, 2026, the full fee applies. Disclosure controls and procedures were evaluated and deemed effective.
Canary Marinade Solana ETF reported a sharp decline in value for the quarter ended March 31, 2026, driven by lower Solana (SOL) prices. Net assets fell from $1,926,808 to $1,145,618, while shares outstanding decreased from 80,000 to 70,000 due to creations and redemptions.
Net asset value per share dropped 32.05%, from $24.09 to $16.37, roughly in line with a 33.12% decline in SOL’s price over the period. The ETF earned $21,975 in staking income, fully offsetting its 0.50% sponsor fee, which was entirely waived, resulting in a 0.00% expense ratio.
Canary Marinade Solana ETF is a Delaware statutory trust that offers exchange‑traded exposure to Solana (SOL), with Shares listed on Nasdaq under the symbol SOLC. The Trust holds SOL and, under normal circumstances, stakes nearly all holdings through Marinade Finance to earn additional SOL rewards.
Net asset value is calculated daily using the CoinDesk Solana CCIXber 60m New York Rate, with creation and redemption in 10,000‑Share Baskets. As of March 23, 2026, the Trust had 70,000 Shares outstanding. A unified Sponsor Fee of 0.50% of SOL Holdings covers most operating expenses.
Custody of SOL is split between Coinbase Custody and BitGo, using primarily cold storage and commercial crime insurance policies shared across their client bases. The report highlights technical features and risks of the Solana Network, including Proof‑of‑History, staking dynamics, potential forks, attacks, and evolving U.S. and foreign digital‑asset regulation.