On April 16th, a significant milestone was reached with the introduction of four Solana (SOL) spot ETFs on the Toronto Stock Exchange (TSX), which represent North America’s first Solana Exchange-Traded Product (ETP) that incorporates staking functionality. These innovative ETFs are designed to track the USD value of SOL while also offering investors an enticing opportunity to earn annualized staking rewards of approximately 6% to 8%. This positions them as a viable option for those interested in generating passive income in the burgeoning crypto market.
Market analysts suggest that the rollout of the Solana spot ETF could potentially enhance SOL’s market momentum. Despite recent declines, with SOL experiencing a price drop of about 33.21% over the past 2025 days, investors are encouraged to monitor the ETF’s adoption and associated capital inflows closely. Analysts are particularly focused on whether SOL can maintain stability above the $122 threshold and whether it can break through the $149.74 resistance level. As always, investors should execute comprehensive risk management strategies and assess their individual investment objectives and risk appetite.
Source: https://en.coinotag.com/breakingnews/solana-sol-spot-etfs-launch-in-canada-a-game-changer-for-passive-income-and-market-performance/