The Solana (SOL) Community Is Watching as the World's First Spot Solana ETFs Prepare to Launch in Canada Tomorrow

With this key launch, the speculation has also grown about whether this milestone could push SOL's price toward the $200 mark.

The Solana community and crypto market are closely watching as the world’s first spot Solana ETFs are set to launch in Canada tomorrow, April 16.

With this key launch, speculation has also grown on whether this milestone could push SOL’s price toward the $200 mark.

The Ontario Securities Commission (OSC) has approved multiple ETF issuers, including Purpose, Evolve, CI, and 3iQ, to list their products. This could potentially open Solana to a new class of institutional investors.

Comparing Past ETF Launches To Solana ETF

According to Bloomberg ETF analyst Eric Balchunas, Canada is readying spot Solana ETFs to launch this week after the regulator gave the green light to multiple issuers.

The Ontario Securities Commission (OSC) has approved several institutions, such as Purpose, Evolve, CI, and 3iQ, to list their products, and TD will be providing staking services for the ETFs.

Canada is readying spot Solana ETFs to launch this week after a regulator gave a 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

However, Balchunas cautions against expecting too dramatic a market reaction based on previous altcoin ETF launches. He noted that the two Solana ETFs in the U.S., which track futures so are not a perfect subject, haven’t done much. They have very little in terms of assets under management. The two-times leveraged XRP ETF already has more AUM than both Solana ETFs combined, and it came out after.

This is supported by Volatility Shares Solana ETF (SOLZ) statistics, which launched in March as the first financial derivative-based ETF tracking Solana. SOLZ has accumulated only about $5 million in net assets as of April 14. This reflects relatively weak investor interest in Solana ETF products to date.

The reception by Canadian investors may vary from the U.S. futures-based products. However, experience has shown that investors must have realistic expectations towards short-term pricing effects.

Analyst SOL Price Forecasts Provide Divergent Outlook

As the listing of the ETF approaches, market analysts are providing varying estimates of SOL price prospects. Some are predicting gains, while others are more cautious in their estimations, according to current market trends.

CoinGape has also published a detailed Solana prediction for April 2025.

Analyst MANDO CT expressed optimism about the development, tweeting: “Bullish for the SOL community! ‘The world’s first spot Solana ETF is expected to launch on April 16th!’.”

This positive sentiment was shared as SOL touched its “HIGHEST $SOL/ ETH WEEKLY CLOSE IN HISTORY” on April 14.

Analyst Momin suggests conditional upside. He noted: “Solana usually front-runs the market. If we see $SOL close above $120 on weekly, expecting it to visit $180 in [the] coming weeks!” However, Momin also cautions that “macro is uncertain due to random decisions.”

Solana usually front-runs the market

If we see $SOL close above $120 on weekly, expecting it to visit $180 in coming weeks!

Onchain activity seems back in action, expect some good plays & action for the next few weeks!

But beware, macro is uncertain due to random decisions! pic.twitter.com/9vfel9SgI4

— Momin (@mominsaqib) April 12, 2025

One of the more bullish perspectives comes from analyst BitBull, who draws parallels to Ethereum’s 2021 performance: “SOL 2025 = $ETH 2021. Just like Ethereum’s ran in 2021, Solana is setting up for a massive move in 2025.” BitBull identifies an “Accumulation Zone: $120–$130” with a target of $300+, based on pattern congruity in chart behavior between SOL and ETH’s historical performance.

With all these points kept in mind, it is extremely unlikely that the Canada Solana ETF launch can propel the SOL price towards $200 in the short term. Assuming that the overall market is bullish and with continued fund inflows through the ETFs, Solana can witness a price surge in the short term.