Solana ETFs that will be launched in Canada – a turning point for sun?

• Canada will welcome its first place Sol ETF with an effort.
• A Bloomberg analyst stated that XRP ETFS could surpass Spot Sol ETFs.

First place Solana (sun) ETF (Exchange-Trade Fund) will debut this week in Canada on April 16, according to Bloomberg’s Senior ETF analyst Eric Balchunas.

In an X (formerly Twitter) Post on April 14, with reference to an investor’s note, Balchunas abandonedThe

“Canada is ready that Spot Solana ETFs to launch this week after the controller gave green light to several issuers including purpose, Evolve, CI and 3IQ. ETFs will include effort via TD.”

Sun vs. XRP ETFS

In addition, the products will have provisions.

At the time of writing, Solana who stacked an 8% annual return, almost triple ETH fell rewards. It remains to be seen how the strenuous rewards will increase the need for product.

However, Balchuna’s trivialized the potential performance of the product and highlights the strong interest in the US-based Tecrium XRP ETF. Compare USA-based sun and Ripple (xrp) ETFS, Balchunas mentionedThe

“FWIW, the 2 Solana ETFs in the United States (which tracks future so not a perfect guinea pig) has not done much. Very little in Aum. 2x XRP already has more AUM than both Solana ETFs and it came out after.”

He added,

“Wouldn’t read lots of it, but it’s our first look at the Alt Coin race.”

As I said, several issuers, including grayscale, have applied for the US Spotol -etfs. The potential deadline for the SEC decision if the products can be between May and October 2025.

At the same time, the ETF update saw a small uptake in the spot requirement, as evidenced by the small increase in Spot CVD (cumulative volume Delta).

In addition, the open interest rate (OI) increased minimally from $ 2.30 billion to $ 2.38 billion, which indicates that speculative interest in the derivative market was not aggressive after the update.

Despite the lukewarm demand, Sol’s price was back over its 2024 annual support of $ 120. If the support holds, Altcoin may be eye -catching $ 140 or $ 160 levels.