- Solana ETFs launching April 16 include staking for additional returns
- Canadian regulators approve multiple ETFs tracking unique SOL indices
- SOL price surge of 25% signals investor optimism before ETF launch
Canadian regulators have approved the first spot Solana ETFs which is set to launch on April 16. The funds issued by asset managers such as Purpose, Evolve, CI, and 3iQ will provide staking options. The approval marks a major development for regulated altcoin investment products in the North American markets.
The Ontario Securities Commission has authorized the listing of these Solana ETFs on local Canadian exchanges. The investment products will provide market exposure to Solana and enable investors to earn staking yields. Each fund will track a different index to enable investors to follow diverse Solana investment strategies.
Under the Canadian decentralized securities framework, provincial regulators can approve cryptocurrency-based ETFs as separate entities. The approval follows the new regulations which were released in January for the management of public cryptocurrency funds. The Solana ETFs will be primarily listed on the Toronto exchange which is under Ontario’s jurisdiction.
Solana ETFs Race
The Solana ETFs could attract investors who want long-term investment in Solana. Analysts have expressed caution about the immediate demand for altcoin ETFs compared to Bitcoin and Ethereum. The U.S.-listed futures-based Solana ETF received just $5 million in net assets since March.
The Canadian issuers expect more market adoption despite limited interest in U.S Solana futures ETFs. Investors could earn passive returns through the option to stake SOL tokens. The ability to stake distinguishes these products from other similar products in different markets.
The U.S Securities and Exchange Commission continues to delay the approval of altcoin-based ETFs beyond Ethereum. U.S.-based crypto funds cannot incorporate staking features because the SEC restricts their potential income generation. Experts believe the SEC could authorize staking of Ether ETFs later in 2025.
Market analysts project that the Canadian approval of Solana ETFs could unlock more innovative crypto investment products. This development demonstrates increased confidence in Solana’s long-term growth. The surge in Solana network activity and transaction volume reaffirms positive investor sentiments.
Price Action
The recent price momentum of Solana reflects increased investor optimism. SOL saw a 25% price increase in the past week, trading within a tight price range between $128 and $135. Analysts predict that the SOL price could rise to $151 if it breaks out above $137 but failure to break the resistance level could push its price to $117.
Nansen data indicate Solana has surpassed 300 million in blockchain transaction volume. The increased on-chain operations validates the reasons for the ETFs’ launch. Moreover, it shows the important role of advancing blockchain adoption across Web3 and DeFi applications.