SOEZ vs SOLC

SOEZAFranklin Solana ETF

SOLCCCanary Marinade Solana ETF

In short

SOEZ Franklin's entry into the spot Solana pile-up: one asset, no derivatives, staking switched on up to 100% where practicable, at 0.19% with no fee waiver propping up the number.

SOLC Spot Solana that also stakes, launched into the crowded late-2025 Solana rush. The staking machinery is real; so is the 0.50% fee, more than double what the typical fund in this cohort charges.

Stated mandate

SOEZ The Fund seeks to track the price performance of Solana, before deducting its expenses.

SOLC The Trust seeks exposure to the price of Solana held by it, after operating expenses and liabilities. It also seeks additional SOL through Solana Network proof-of-stake validation.

Why people hold it

• SOEZ 0.19% gross and net, no waiver doing the work. That undercuts same-index rivals TSOL (0.21%), VSOL (0.30%) and SOLC (0.50%), and matches GSOL (0.19%).
• Seeks to stake as much of the fund's Solana as is practicable, up to 100%, with rewards received back in SOL tokens.franklintempleton.com
• Plain plumbing: Solana held by a custodian, no leverage and no derivatives in the strategy. One asset, nothing else riding along.sec.gov
• Sits in the upper half of its spot Solana peer group while doing exactly what the prospectus says: track Solana's price before expenses.

• SOLC Holds SOL directly and puts it to work: the trust seeks additional SOL through Solana proof-of-stake validation, not just price exposure.
• Staking rewards are pursued as more SOL inside the trust rather than cash payouts, and the fund has not made distributions.
• One brokerage ticker covers both holding and staking Solana, with the trust handling custody and validation mechanics.

Worth knowing

• SOEZ Staked coins aren't instantly liquid. The sponsor expects two to three days to unstake in normal conditions, and may extend settlement or suspend redemptions under stress.sec.gov
• Cheaper exists in the category: MSOL charges 0.14%. SOEZ lands near the peer-group median fee rather than below it.
• Small and thinly traded, so trading costs can run wider than at the category's heavyweights.

• SOLC The 0.50% fee sits well above the cohort median of 0.21%, and staking rivals BSOL (0.20%) and GSOL (0.19%) do a similar job for less.
• A small fund that trades lightly, so spreads tend to be wider than at the largest Solana ETFs.
• Launched in November 2025 into a six-fund Solana field, so the track record is short and it starts from the back of that group.

Full SOEZ profile⁠

Full SOLC profile⁠