Jan 9, 2025

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Sol Strategies Invests CAD $25 Million in Solana Ecosystem

Sol Strategies announced a CAD $25 million ($17.4 million) investment in the Solana ecosystem. CEO Leah Wald expressed optimism about developer activity and enthusiasm for Solana.

Key points:

• Wald is cautious about the approval of a Solana ETF in the US, suggesting it will take time for education and discussions with regulators.
• She anticipates Canada may approve a Solana ETF from 3iQ before the US sees similar products.
• Wald highlighted concerns over the SEC’s leadership changes impacting ETF approvals and emphasized the need for thorough regulatory understanding of different cryptocurrencies.