Hopes Around Spot Solana ETF Approval and Canada’s First Staking ETF:
A major trigger behind Solana’s rally has been the growing optimism around Spot Solana ETFs. Canada recently approved the world’s first staking-enabled Solana ETFs, led by firms like Purpose, Evolve, CI Global, and 3iQ. This development allows traditional investors to gain exposure to Solana while also benefiting from staking rewards, which creates new demand and strengthens Solana’s position as an institutional-grade asset.
Institutional Inflows and Growing Market Confidence
Another key driver has been the entry of large institutional players. For instance, ARK Invest purchased $5.2 million worth of shares in the 3iQ Solana Staking ETF. Such moves send a strong signal of long-term confidence and help stabilize market sentiment, encouraging retail investors to follow institutional strategies.
Big Staking Moves and Declining Circulating Supply
On-chain data from Lookonchain revealed that a newly created wallet withdrew 150,011 SOL (worth over $26 million) from Binance and immediately staked it.This signals strong conviction from whales, reduces the liquid supply in circulation, and reinforces the “HODL” sentiment across the Solana ecosystem — both of which are highly supportive for price momentum.
