Solana ETF in the works: 3iQ files for new ETP in Canada

cyptouser5 months agoCryptocurrencies News70
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Digital asset manager 3iQ has filed for a Solana (SOL) exchange-traded product listing on Canada’s Toronto Stock Exchange (TSE) — and it seeks to include staking.

“We have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering,” 3iQ posted to X on June 20.

If approved, it would be the first Solana ETP listed in North America, the firm noted.

Source: 3iQ Digital Asset Management

QSOL was filed on a preliminary prospectus with securities regulatory authorities in all Canadian provinces and territories except Quebec, 3iQ noted.

QSOL would offer “exposure to the digital currency SOL” and the “daily price movements of the U.S. dollar price SOL.”

Related: ASX’s first Bitcoin ETF taps $1.3M volume on first trading day

In addition, QSOL holders may accrue interest from native SOL staking yields.

The firm noted that staking yields currently range between 6-8%.

Coinbase Custody and Tetra Trust would serve as custodians while Coinbase Custody would provide the institutional staking infrastructure needed to Solana staking for QSOL.

The Canadian firm is also behind The Bitcoin Fund (QBTC), The Ether Fund (QETH), the 3iQ Bitcoin ETF (BTCQ) and the 3iQ Ether Staking ETF (ETHQ) on the TSE.

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