Canada to launch world's first spot Solana ETFs on April 16, 2025.

New ETFs include staking, offering better rewards than Ethereum-based options.

Canada is set to launch the world’s first spot Solana ETFs (Exchange-Traded Funds) on April 16, 2025. The Ontario Securities Commission (OSC) has granted approval to several major ETF issuers, including Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ, to introduce Solana ETFs in the country.

These ETFs will directly hold real Solana (SOL) tokens and offer a staking component, with TD Bank providing the services. According to Eric Balchunas from Bloomberg, the Solana ETFs will pay better returns thanks to staking, and the total cost of holding the ETF will be lower.

Each ETF will track a different index and cater to specific investment goals and strategies. Overall, the focus will be on long-term physical coin-linked products, showcasing strong belief in the token.

Solana has seen a 25% price increase in the past week, and there is growing interest in the cryptocurrency. Santiment data highlights a surge in online mentions and social media engagement for SOL.

Moreover, Nansen data indicates that Solana had the highest transaction volume among all blockchains last week, with over 355 million transactions.

Solana 1-day price chart. Source: TradingView

In the short term, if Solana can break above the $137 resistance level soon, the next price target could be around $151. Alternatively, if the price falls below the support level at $125, it might drop further to $117. The next few days will be crucial for determining the direction of Solana’s price trend.