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    Home » Canadas First Solana ETP Awaits Approval
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    Canadas First Solana ETP Awaits Approval

    By adminJun. 21, 2024No Comments2 Mins Read
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    Canadas First Solana ETP Awaits Approval
    Canadas First Solana ETP Awaits Approval
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    On Thursday, 3iQ Digital Asset Management announced the submission of a preliminary prospectus for the Solana Fund (QSOL) to the Canadian securities regulatory authority (excluding Quebec). If approved, QSOL will become Solana’s first exchange-traded product (ETP) in North America and will be listed on the Toronto Stock Exchange (TSX) under the ticker symbol “QSOL”.

    This potential listing is a significant achievement for 3iQ, a leader in the digital asset investment field. Previously, the company launched the first publicly traded funds for Bitcoin and Ethereum in Canada.

    3iQ Corp. is pleased to announce that we have submitted a preliminary prospectus for the initial public offering of the Canadian Solana Fund (QSOL). This continues our track record of innovation, and if applicable regulatory approvals are obtained…

    QSOL aims to provide investors with exposure to the price movements of SOL in US dollars and offers opportunities for long-term capital growth. Additionally, the fund will benefit from the staking activities on the Solana network, with expected yields ranging between 6-8%.

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    The U.S. Securities and Exchange Commission has ultimately suspended its investigation into Ethereum.

    Greg Benheim, Executive Vice President and Head of Business Development at 3iQ, emphasized the company’s commitment to innovation and regulatory compliance, stating:

    “3iQ is dedicated to establishing global excellence standards, and we are proud to be working closely with the OSC to responsibly improve Canada’s digital asset investment landscape.”

    3iQ has partnered with Canaccord Genuity as the lead agent, with Tetra Trust and Coinbase Custody Trust Company serving as custodians. The fund will utilize Coinbase Custody’s institutional staking infrastructure to support SOL staking.

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