Solana Price Prediction – Canada SOL ETF Could Propel Solana to $200

Highlights:

• Solana is range-bound, but a breakout is imminent
• Upcoming Solana ETFs in Canada could trigger a breakout
• The staking aspect of the Canadian Solana ETFs makes them a big deal 

Solana (SOL) is little moved today, reflecting the relative calm across the market. Solana was priced at $133.16 when writing, reflecting a 0.16% decline in the past 24 hours. Trading volumes are also relatively low during the day. Daily volumes have plummeted by 12.21% and sit at $3.7 billion. 

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This decrease suggests many SOL holders are choosing to hold instead of trading, which could indicate a shift in sentiment that often precedes a bullish breakout. Multiple factors could trigger such a breakout for Solana, the biggest being the launch of Solana ETFs in Canada. 

The Canadian SOL ETF Launch Could Be a Major Opportunity

Bloomberg ETF analyst Eric Balchunas announced that spot Solana ETFs are scheduled to launch in Canada on April 16. Balchunas announced this in an X post on April 14, attributing it to a report by TD Bank. That report shows that the Ontario Securities Commission has approved Evolve, CI, and 3iQ to issue ETFs that hold Solana to four asset managers.

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

This is outstanding news for SOL as it becomes one of the unique altcoins to be included in investment vehicles of this caliber. Each province in Canada can make independent decisions, owing to the country’s decentralized regulatory system for securities. Here, the OSC regulates financial markets in Toronto and has been quite progressive.

These ETFs are unique because they allow staking of up to 10% of the ETF’s assets. Staking yields add yet another yield-earning feature to these funds. Balchunas remarked that this was “the first look at the altcoin race,” indicating that other altcoins may soon tail in the ETF-offered altcoins.

The Ontario Securities Commission released a statement confirming that the approvals were made following the new guidelines published in January. These new guidelines allow public investment funds to hold cryptocurrencies and participate in limited staking activities.

US Solana ETFs Likely to Launch Soon as Well

While Canada is diving headfirst into providing altcoin ETFs, the United States is still dragging its feet. The U.S. SEC has received several applications for ETFs with a mix of altcoins. However, only funds that hold Bitcoin and Ethereum have been approved. With the US being one of the largest markets for cryptocurrencies, the approval of a SOL ETF, as many investors are anticipating, could help draw in investments into Solana. 

🚀 Canada is set to launch spot #Solana ETFs this week after regulators gave the green light to several issuers, including Purpose, Evolve, CI, and 3iQ. The ETFs will include staking.

Meanwhile, the US @SECGov has delayed decisions on allowing staking and in-kind creations and… pic.twitter.com/zIeOmJbn2x

— Mpost Media Group (@mpost_io) April 15, 2025

By enabling ETF access with staking, Solana could draw in investors who were too cautious to hold Solana directly in crypto wallets. ETFs offer regulated access, making participation easier, especially in regions where self-custody is unnerving.

Technical Analysis – SOL Range Bound Signal to Possible Breakout

Solana is trading in a narrow range between the $133.93 resistance and $126.53 support. If bulls take control and push Solana through the $133.93 resistance, a rally to $200 could follow.

On the other hand, if bears take control and push Solana through the $126.53 support, then a correction to $119.43 could follow. Of these two scenarios, a bullish breakout is more likely. This is due to the upcoming Solana ETFs launch in Canada on April 16. 

Recap

Solana moved a little today but could be primed for a breakout. The upcoming ETF launch in Canada, particularly with the one-of-a-kind staking feature, could renew interest in Solana and drive prices higher in the coming days. With such news, a retest of $200 is possible for SOL in the short term. 

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