Canada Launches First Solana ETF with Staking Capabilities – Solana Price Eyeing to Break $140?

Canada is about to make history by launching the first-ever Solana ETF with staking capabilities. The Ontario Securities Commission (OSC) has approved asset managers Purpose, Evolve, CI, and 3iQ to list Solana ETFs starting April 16. These ETFs will provide a unique opportunity for Canadian investors to hold Solana in a regulated product while earning staking rewards. This development comes amid growing global interest in crypto news regarding Solana price and its increasing potential in the altcoin market. While the U.S. remains hesitant about staking in ETFs, Canada takes the lead in expanding SOL ETF offerings.

Canada Pioneers Solana ETFs with Staking

Canada is on the verge of launching the world’s first spot Solana ETFs, set for April 16. This move positions Canada ahead of the U.S., where spot altcoin ETFs, including those tracking Solana, are still pending approval. Bloomberg’s Eric Balchunas reported that asset managers Purpose, Evolve, CI, and 3iQ will list the ETFs on the Toronto Stock Exchange, with approval from the Ontario Securities Commission (OSC).

Canada is readying spot Solana ETFs to launch this week after regulator gave green light to multiple issuers incl Purpose, Evolve, CI and 3iQ. ETFs will include staking via TD pic.twitter.com/FSw149Xkm4

— Eric Balchunas (@EricBalchunas) April 14, 2025

These innovative SOL ETFs will not only track the price of Solana but also engage in staking to earn rewards, potentially offering higher yields than Ethereum staking. This feature could make the ETFs more attractive to investors seeking additional income from their holdings. In contrast, the U.S. Securities and Exchange Commission (SEC) has yet to approve staking for crypto ETFs, though it’s expected that staking could be allowed by late 2025.

While the upcoming SOL ETFs in Canada are groundbreaking, the U.S. market’s reaction remains cautious. Solana’s current price stands at around $131.52, but market analysts note that investor demand for altcoin ETFs may not match that of Bitcoin or Ethereum-focused funds. However, this development shows the growing interest in altcoins and staking as part of the next evolution in crypto investment products.

Solana Price Analysis of April 15

Following this crypto news, the trading day of April 14th started with bullish momentum, spurred by an overbought situation at 2:30 UTC. The price faced resistance at $136.13. At 03:00 UTC, the MACD line showed a death cross, signaling a possible downtrend. The price then fluctuated within a range. Another death cross further pushed the price downward, but by 16:25 UTC, a golden cross appeared, halting the downward movement and leading to moderate fluctuations. 

Chart 1, analyzed by ShwetaCW, published on TradingView, April 15, 2025

As illustrated in the SOL/USDT chart, On April 15th, the price continued to move within a moderate range. An oversold signal emerged on the RSI at 00:15 UTC, causing the price to find support at $127.72. By 04:45 UTC, a golden cross appeared on the MACD, paired with an overbought situation at 05:50 UTC, leading to an upward fluctuation in price. According to Solana price prediction, if the bullish trend persists, it could break the current resistance at $136.30 and potentially target $140 or higher. However, if the trend reverses, the price could break the support at $127.72 and dip toward $120 or lower. 

Solana Price Outlook 

With Canada launching its first Solana ETFs with staking, all eyes are on Solana. If the momentum continues, we could see the price rise steadily, possibly pushing past the $140 mark. But the market can be unpredictable, so investors will need to keep a close watch. If the ETF performs well, it could spark more interest in altcoin ETFs down the line.