Canary Capital, a prominent crypto-focused investment firm known for its exchange-traded funds (ETFs), has officially named Marinade Select as its staking provider for the newly launched Canary Marinade Solana ETF. This partnership marks a significant step in integrating institutional-grade staking solutions into the world of cryptocurrency ETFs.

Marinade Labs: Pioneering Solana Staking Protocols

Marinade Labs, the development company behind the first-ever Solana staking protocol, has been selected by Canary Capital to provide staking services for the Solana ETF. The announcement was confirmed through an amended filing with the U.S. Securities and Exchange Commission (SEC). This collaboration aims to enhance the security and compliance of the much-anticipated ETF.

According to the filing, Marinade Select’s institutional-grade technology will play a key role in ensuring the ETF operates efficiently while maintaining stringent compliance standards. This move underscores the growing importance of secure and scalable staking solutions in the cryptocurrency investment space.

What Is Marinade Select?

Marinade Select is an advanced staking platform tailored for institutional clients. Unlike Marinade’s native staking product, Select offers enhanced features such as zero tolerance for malicious maximal extractable value (MEV), high-performance metrics, and robust compliance protocols. These features make it an ideal choice for institutional investors looking for reliable staking solutions.

“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, CEO of Marinade Labs. “With Marinade Select, we’re creating a smarter path for institutional stakers, one that aligns high performance with compliance.”

Key Features of Marinade Select

Marinade Select distinguishes itself through its focus on institutional-grade staking solutions. Below are some of the key features:

  • Compliance-Driven: Designed to meet the stringent requirements of institutional clients with zero tolerance for malicious activity.
  • High Performance: Optimized for scalability and efficiency in staking operations.
  • Security: Implements cutting-edge protocols to ensure the safety of staked assets.

Since its inception, Marinade has facilitated staking for over 10 million SOL, equivalent to $2 billion worth of assets. This impressive track record highlights the platform’s reliability and effectiveness.

Recent Developments and Partnerships

Marinade Select’s capabilities were further enhanced with its recent integration with BitGo, a move that expanded Solana staking access for institutional investors. Additionally, Marinade Native offers integration with Copper and Zodia, providing diverse options for stakeholders in the crypto space.

Canary Capital’s Expanding ETF Portfolio

Canary Capital continues to make strides in the digital asset investment market. In addition to the Solana ETF, the firm has filed ETFs for other cryptocurrencies, including Sui, Hedera, Tron, and Litecoin. Notably, Canary Capital has also ventured into unique offerings such as an ETF for Pudgy Penguins, showcasing its innovative approach to digital asset investments.

This partnership between Canary Capital and Marinade Select reflects the growing demand for institutional-grade staking solutions and the increasing sophistication of crypto investment products. As the market evolves, collaborations like these will likely play a pivotal role in shaping the future of cryptocurrency ETFs.

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