- Canada approved the first-ever Solana spot ETF, but SOL’s price barely reacted and remains 55% below its peak.
- Despite a recent drop to $96, Solana is now hovering around $132 with minimal price movement over the last 24 hours.
- CoinCodex predicts only a slight price uptick for SOL by April 20, with estimates reaching just $135.
The crypto space’s been shifting fast lately, and one of the biggest stories on the radar is the rise of exchange-traded funds (ETFs). Just recently, Canada threw its hat in the ring—becoming the first country to greenlight a spot Solana ETF. You’d think that would’ve made waves, right? But strangely enough, SOL’s price barely blinked.
A Bit of Hype, Not Much Action—Yet
To be fair, Solana had one heck of a year. It climbed from a humble $96 or so all the way to nearly $300, topping out at $294.33. Everyone was cheering at that point. But then—like most things in crypto—it couldn’t hold the line. First it slipped under $200, then even lost its grip on the $150 zone, and just last week? It dipped all the way back to $96.59. Ouch.
Now though, things look… stable? Maybe too stable. As of now, SOL’s sitting at around $132.53, showing hardly any major price moves in the past 24 hours. Still, it’s sitting more than 55% below its recent peak. So yeah, the bulls have their work cut out.
Canada’s Big Move: A Solana ETF
Set to officially go live on April 16, the Canadian Solana ETF is being backed by some heavy hitters—3iQ, CI Global Asset Management, Evolve ETFs, and Purpose Investments. The Ontario Securities Commission gave the nod, and these firms are gearing up to list SOL-based ETFs. It’s a pretty big deal, especially for exposure and legitimacy, but again, the market hasn’t reacted much… yet.
What Could April 20 Bring?
According to CoinCodex projections, things might pick up a little—emphasis on “little.” On April 19, SOL is expected to touch $135.22, which is a 1.5% rise. Not bad, but not fireworks either. The following day, April 20, it may hover around $134. So we’re looking at a baby step forward—more of a shuffle than a sprint.
