MicroStrategy of Solana? Canada’s Sol Strategies bets $25M on SOL – BitRss

• Canada-based Sol Strategies has raised more capital for its SOL investments. 
• A crypto VC projected a bullish outcome for SOL if ETF is approved. 

Solana’s [SOL] MicroStrategy’s equivalent, Sol Strategies, secured a CAD $25M (about USD $17.4M) credit for purchasing SOL tokens and revamping its staking services. Part of the Canada-based firm’s statement read, 

“The Company plans to deploy these tokens across its core focus areas within the Solana ecosystem, including decentralized finance protocols, validator operations, and strategic liquidity provision to emerging Solana-based projects.”

SOL ETF expectations

The institutional interest in the layer-1 platform could explode in the coming months amid US spot SOL ETF expectations. 

According to Andrew Kang of crypto VC Mechanism Capital, SOL was relatively undervalued compared to its network growth ahead of likely ETF approval in Q1. …