- Canada will begin trading Solana ETFs with staking on April 16 after regulator approval.
- ETFs provide direct Solana exposure and staking yield in a single investment.
- Solana shows bullish momentum with technical support ahead of the fund launch.
Canada is set to become the first country to introduce spot exchange-traded funds for Solana. The Ontario Securities Commission has approved multiple applications from investment firms, including Purpose, Evolve, CI Global Asset Management, and 3iQ. These ETFs are scheduled to begin trading on April 16, 2025.
The authorized Solana funds conduct asset ownership combined with staking operations, unlike standard cryptocurrency exchange-traded funds. The composition of the funds enables investors to participate in SOL price fluctuations along with earnings from staking activities. Through this process, investors can obtain yield increases without needing to handle the staking administration directly.
Growing Market Appeal for Yield-Generating Assets
The integration of staking into these ETFs may offer a competitive advantage as global interest in crypto yield strategies increases. With Ethereum staking already gaining institutional interest, Solana’s higher staking yields could make these funds attractive to yield-seeking investors. The Canadian model could potentially influence similar developments in other markets.
The recent price stability of Solana occurred before the potential ETF launch in the market. As of the latest data, SOL trades at $130.78 after a 1.91 percent daily increase. The price recovered rapidly when it reached a brief $128 mark due to sustained market demand at this level. SOL continues to hold a consolidation pattern between the prices $130 and $134.
Technical Indicators Suggest Upward Momentum
The key performance indicators indicate favorable conditions for Solana in the upcoming time period. The Relative Strength Index reveals 52.02 as its current reading, indicating rising market demand without reaching an overbought zone. When the MACD lines cross one another from below to above it signifies potential price growth. The MACD line exceeds the signal line as it shows positive growth through an expanding histogram.
Resistance remains near the $134 level, a point that previously limited price gains. A minor resistance level has also developed around $132.50. These technical levels are closely watched by traders as momentum builds before the ETF debut.
