Solana Price Predicted to Hit $264 as Canada Launches First Ever SOL ETF
The post Solana Price Predicted to Hit $264 as Canada Launches First Ever SOL ETF appeared on BitcoinEthereumNews.com.
Solana surged 7% on Thursday, outperforming major tokens as Canada debuts the world’s first Solana spot ETF on the Toronto Stock Exchange. Solana ETF Debut on Toronto Exchange Sparks Rally as SOL Surpasses Ethereum, Bitcoin Gains Solana (SOL) climbed more than 7% on Thursday retaking the $135 resistance level as it outpaced Bitcoin and Ethereum in daily performance. Solana’s ongoing rally follows the landmark launch of the world’s first Solana spot exchange-traded fund (ETF). The ETF, launched by Purpose Investments, began trading on the Toronto Stock Exchange under the ticker CSOL, signaling growing institutional appetite for Layer-1 blockchain alternatives. Solana price retakes $135 level, April 17, 2025 | Source: Coingeck0 Purpose Investments’ CEO Som Seif emphasized that the fund provides “secure, compliant access” to Solana without the need for investors to manage private keys or engage with decentralized wallets. With Canada leading the charge on regulated digital asset products, the ETF is viewed as a foundational step in mainstreaming Solana exposure across North American financial markets. The ETF’s launch arrives at a time of dovish central bank signals across global economies, bolstering risk asset sentiment. As the European Central Bank prepares for its seventh rate cuts this month, Trump mounts pressure on the U.S. Federal Reserve to ease rates, liquidity conditions are turning increasingly favorable for more crypto demand in the weeks ahead. Solana ETF Reinforces Institutional Credibility as Ethereum Struggles With Momentum Beyond the immediate price reaction, Solana’s ETF debut is widely seen as a pivotal moment in the Layer-1 DeFi ecosystem battle. Solana is now making structural gains in legitimacy — a domain long dominated by Ethereum following the U.S. approval of ETH-based ETFs in 2024. Solana total staking deposits, April 2025 | Source: StakingRewards Since the ETF announcement, on-chain activity has validated bullish sentiment. Staking deposits on…
Filed under: News - @ April 18, 2025 4:26 am