Quarterly ResultMay 13, 2026, 04:01 PM
Canary Marinade Solana ETF Q1 NAV per Share Falls 32.05% to $16.37
AI Summary
Canary Marinade Solana ETF reported a significant decline in its net asset value and NAV per share for the quarter ended March 31, 2026. The decrease was primarily driven by a 33.12% depreciation in the price of Solana and net share redemptions. Despite generating $21,975 in staking income, the Trust recorded substantial unrealized losses on its Solana investments, leading to a net decrease in net assets from operations of $(551,958).
Key Highlights
- NAV per Share decreased 32.05% to $16.37 as of March 31, 2026.
- Total Net Assets declined to $1,145,618 from $1,926,808 at year-end 2025.
- Investments in Solana (SOL) decreased to $1,145,618 from $1,926,808.
- Net decrease in net assets from operations was $(551,958) for the quarter.
- Net change in unrealized depreciation on SOL investments was $(539,756).
- The Trust earned $21,975 in staking income during the quarter.
- Shares outstanding decreased by 10,000 to 70,000 due to net redemptions.
- Sponsor fees of $1,691 were fully waived for the quarter.