{"id":21722,"date":"2025-04-15T11:48:46","date_gmt":"2025-04-15T11:48:46","guid":{"rendered":"https:\/\/cryptd.in\/canada-launches-first-staking-enabled-sol-etfs-heres-why-solaxy-is-key-to-sols-future\/"},"modified":"2025-04-15T11:48:46","modified_gmt":"2025-04-15T11:48:46","slug":"canada-launches-first-staking-enabled-sol-etfs-heres-why-solaxy-is-key-to-sols-future","status":"publish","type":"post","link":"https:\/\/cryptd.in\/de\/canada-launches-first-staking-enabled-sol-etfs-heres-why-solaxy-is-key-to-sols-future\/","title":{"rendered":"Canada Launches First Staking-Enabled SOL ETFs, Here\u2019s Why Solaxy Is Key to SOL\u2019s Future"},"content":{"rendered":"

Canada has become the first country to launch a Solana spot ETF with staking. The Ontario Securities Commission (OSC) has approved four asset managers to offer the new spot Solana: Purpose, Evolve, CI, and 3iQ.<\/p>\n

The Solana ETF will invest in physical $SOL long-term and stake them to earn more rewards. This will result in better returns than Ether staking.<\/p>\n

Read on to discover how this development could affect the larger crypto market. We\u2019ll also talk about the Solaxy presale<\/a><\/strong> and how it\u2019s at the center of Solana\u2019s potential rise.<\/p>\n

The Heating ETF Race<\/h2>\n

The SEC approved a Bitcoin-pegged ETF in the US back in January 2024. However, it\u2019s still mulling over a staking-enabled ETF, and Grayscale\u2019s proposal to introduce staking in its spot ETH ETFs is on hold.<\/p>\n

Canada has always been a step ahead of the US in this aspect. For instance, it launched its first Bitcoin ETF back in 2021.<\/p>\n

But it\u2019s likely only a matter of time before the US follows suit. Bloomberg analyst James Seyffart says that it may happen as soon as the end of 2025.<\/p>\n

A lot of this development can be credited to the pro-crypto Trump administration. The president\u2019s open support for crypto, backed by increasingly relaxed legislation, promises to propel crypto to new heights.<\/p>\n

The global ETF race is now heating up, with multiple applications pending with regulators.<\/p>\n

For example, the SEC is sitting on multiple applications for ETFs backed by different cryptocurrencies, such as Litecoin, XRP, Solana, and more. Hong Kong and Australia have also also launched their own crypto ETFs.<\/p>\n

Solana\u2019s Price Showing Strength<\/h2>\n

Besides the ETF buzz, Solana has also shown some technical strength over the last month.<\/p>\n

$SOL gained over 30% last week<\/a> and is now trading at $133. Although still far from the $300 mark, a positive mini-rally has investors hopeful.<\/p>\n

The SOL\/ETH pair has also rallied over 45% since the last week of February. It surged 25% in April alone and is currently trading at around 0.08012, close to its all-time high.<\/p>\n

The growing strength of $SOL over $ETH shows that it may outperform the latter in the coming weeks, which is exactly what the OSC thinks.<\/p>\n

\"SOL<\/p>\n

BitBull, a popular crypto trader, compared the current $SOL setup with $ETH in 2021.<\/p>\n