Canada Launches First Staking-Enabled SOL ETFs, Here’s Why Solaxy Is Key to SOL’s Future
Summary
Canada has launched the first Solana spot ETF with staking, approved by the Ontario Securities Commission for four asset managers: Purpose, Evolve, CI, and 3iQ. This follows the SEC's approval of a Bitcoin-pegged ETF in the US but leaves staking-enabled ETFs under consideration. Solana's price has increased over 30% recently, trading at $133, showing potential to outperform Ethereum. However, scalability issues have hindered Solana's growth. The new cryptocurrency Solaxy ($SOLX) aims to address these issues by batch-processing transactions on a sidechain, enhancing Solana's scalability. Solaxy's presale has raised over $30 million, attracting both retail and large investors, with predictions of significant price increases by 2030.
