3iQ Files for First North American Solana Exchange-Traded Product with Staking Options
Summary:
3iQ, a digital asset manager, has applied for a Solana (SOL) exchange-traded product (ETP) listing on the Toronto Stock Exchange. The application includes plans for staking Solana. If approved, it would be North America's first Solana ETP. The Solana Fund (QSOL) would also offer investors access to the SOL digital currency and track its daily price against the U.S. dollar. QSOL investors could further earn interest from SOL staking returns, currently estimated between 6-8%.
3iQ, a manager of digital assets, has submitted an application for a Solana (SOL) exchange-traded product (ETP) to be listed on the Toronto Stock Exchange in Canada, with plans to incorporate staking. On June 20, 3iQ announced that they had put forth a preliminary proposal for the launch of The Solana Fund (QSOL) via an initial public offering in Canada. If given the green light, this will become the inaugural Solana ETP to be listed in North America, as highlighted by the company. The information comes directly from 3iQ Digital Asset Management. For establishments other than Quebec, the QSOL submission has been filed on a preliminary prospectus with Canadian securities regulators. QSOL aims to offer investors “access to the SOL digital currency” and allow them to track the "daily price fluctuations of the U.S. dollar against SOL." Investors in QSOL could also benefit by earning interest from the native SOL staking returns, currently ranging between 6-8%, the firm pointed out. As part of the arrangements, both Coinbase Custody and Tetra Trust will act as custodians, with Coinbase also providing the institutional staking infrastructure for Solana staking within QSOL. Some of the other successful listings from the Canadian company include The Bitcoin Fund (QBTC), The Ether Fund (QETH), the 3iQ Bitcoin ETF(BTCQ), and the 3iQ Ether Staking ETF (ETHQ) on the Toronto Stock Exchange.
Published At
6/21/2024 1:15:15 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.