Compass Investments

– Canada plans to launch the world’s first spot ETFs on Solana on April 16, 2025.

– The new ETFs include staking, offering more attractive rewards than Ethereum-based options.

Solana (SOL) could reach $151 if it breaks through the $137 resistance level in the near future.

After Bitcoin and Ethereum ETFs, Canada is preparing to launch the world’s first spot Solana ETF (Exchange-Traded Funds) on April 16, 2025, which will be a milestone not only for Canada but also for the entire crypto space. The launch of these ETFs comes at a very timely moment, as the price of Solana has risen by 25% in the last week.

the Ontario Securities Commission (OSC) has officially authorized several major ETF issuers, Purpose Investments, Evolve ETFs, CI Global Asset Management and 3iQ, to launch Solana ETFs in the country.

these companies will offer new ETFs that hold real Solana tokens (SOLs) rather than just tracking the price.

The special feature of these ETFs will be that they will also include staking. According to Bloomberg’s Eric Balchunas, the ETFs will utilize TD Bank to provide steaking services. Steaking means that you hold Solana to support the network and in return you get extra coins as rewards.

This could provide investors with higher returns, especially since Solana steaking pays more than Ethereum, as well as reduce the total cost of ownership of the ETF.

Although all ETFs will hold Solana, each will track a different index. This will allow investors to invest in Solana according to their goals and strategies.

However, they will all focus on holding real Solana coins for the long term, showing confidence in the future of the token.

Solana has been getting a lot of attention lately, and not just from investors! According to Santiment over the past few days, more and more people are discussing it online and it is trending on social media.

even more excitement is added by Nansen’s data, which shows that Solana has had the most transactions of any blockchain in the last week, with over 355 million transactions.

If you look at the 1-day chart of Solana’s price, it has been consolidating in the range of $125 to $135 for the past few days. Experts believe that if it can break above $137, the next target could be $151.

However, if the price falls below the support level of $125, it may drop to $117. Thus, the next few days will be critical in determining the direction of Solana’s price movement.