Solana Across America: The Road to Accelerate ep. 4 🇺🇸🗽 https://t.co/kkTvu04smw
— Solana (@solana) April 15, 2025
Solana defied the standstill in other large-cap cryptocurrencies on Wednesday following the impressive launch of its exchange-traded fund (ETF) in Canada. The sixth-largest digital asset by market capitalization spiked nearly 3% in the last 24 hours, outgaining higher-valued coins. Solana’s trading volume soared 32.76% to $4.37 billion, making it the fifth-most transacted cryptocurrency in the last 24 hours.
Solana powers 24/7 internet capital markets ft. @calilyliu
A new financial system is forming — where institutional assets like tokenized treasuries are accessible to anyone with an internet connection.
Be in the room when it happens this May at Accelerate NYC đź—˝ pic.twitter.com/mDu17B6wT1
— Solana (@solana) April 15, 2025
Speculative interest in the coin has also increased, with more than half of Binance traders with an open contract betting on SOL’s price increase, according to Coinglass. The positive sentiment followed the debut of the 3iQ Solana Staking ETF on the Toronto Stock Exchange. The shares of the ETF closed 3.40% higher at $10.34 on Wednesday.
Anthony Scaramucci’s Skybridge Capital, among other notable investors, participated in the ETF.
Solana ETF launch boosts trading
The investment firm Cathie Wood’s Ark Invest purchased 500,000 shares of the ETF.
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
Ark is a known investor in cryptocurrencies, with its focus on Bitcoin, Ethereum, and Solana. The ETF exposes investors to the price moves of SOL while also generating passive rewards through staking.
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Sign up 👇https://t.co/8LQTHHw0jO (5pm UTC)https://t.co/ssPEFxlD5a (9pm UTC)
— Seeker | Solana Mobile (@solanamobile) April 14, 2025
This launch is seen as part of a broader trend toward growing crypto adoption and integration into traditional financial products.
At the time of writing, Solana traded at $129.81, up 2.89% in the last 24 hours. Year-to-date, the cryptocurrency was down 30%. Cathie Wood calls the trend a “financial services revolution,” citing DeFi’s dominance over the traditional banking system.
