Solana

Bitcoin ETF

Digital asset manager 3iQ has filed for a Solana (<a href="https://cointelegraph.com/solana-price-index">SOL</a>) exchange-traded product listing on Canada’s Toronto Stock Exchange (TSE) — a North American first if approved, the firm claims.
“We have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering,” 3iQ <a href="https://x.com/3iq_corp/status/1803874192875753833" target="_blank" rel="noopener nofollow">posted</a> to X on June 20.
If approved, it would be the first Solana ETP listed in North America, the firm noted.
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 Source: 3iQ Digital Asset Management 
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QSOL was filed on a preliminary prospectus with securities regulatory authorities in all Canadian provinces and territories except Quebec, 3iQ <a href="https://3iq.io/3iq-seeks-to-deliver-north-americas-first-solana-etp?_gl=1*ysa2eb*_gcl_au*MjA2NDQ3MTMyMC4xNzE4OTE5MDM5" target="_blank" rel="noopener nofollow">noted. </a>
QSOL would offer “exposure to the digital currency SOL” and the “daily price movements of the U.S. dollar price SOL.”
Related: <a href="https://cointelegraph.com/news/australia-securities-exchange-asx-vaneck-bitcoin-etf-debut-trading">ASX’s first Bitcoin ETF taps $1.3M volume on first trading day</a>
Holders of 3iQ’s Solana ETP may also accrue interest from native SOL staking yields, which the firm estimates to be around 6-8%.
<a href="https://cointelegraph.com/news/coinbase-custody-changes-leadership-bitcoin-etf-decision-report">Coinbase Custody</a> and Tetra Trust would serve as custodians while Coinbase Custody would provide exclusive <a href="https://cointelegraph.com/explained/offline-staking-explained">institutional staking infrastructure</a> for the Solana fund. 
The 3iQ Bitcoin ETF (BTCQ) and 3iQ Ether Staking ETF (ETHQ) are two of 3iQ’s main cryptocurrency products listed on the TSE, which boast about $233 million and $38.7 million in net assets, respectively, Yahoo Finance data shows. 
The firm also offers The Bitcoin Fund (QBTC) and The Ether Fund (QETH).
Canadian securities regulators <a href="https://cointelegraph.com/news/accelerate-financial-s-bitcoin-etf-approved-in-canada">approved the world’s first</a> spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) ETFs to launch in February 2021, with spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) products coming two months later.
“Canada had spot Bitcoin and spot Ethereum ETFs before the US even got futures ETFs for either asset,” Bloomberg ETF analyst James Seyffart <a href="https://x.com/JSeyff/status/1803884787813486892" target="_blank" rel="noopener nofollow">noted.</a>
Franklin Templeton and other U.S. asset managers have praised <a href="https://cointelegraph.com/news/what-is-solana-and-how-does-it-work">the Solana network</a> in the past but no firm has announced concrete plans to <a href="https://cointelegraph.com/news/franklin-templeton-raises-hope-spot-solana-etf-lauds-network">pursue a spot Solana ETF </a>in the country.
More than $1 billion worth of Solana ETPs are already offered around the world, such as the 21Shares Solana Staking ETP and the ETC Group Physical Solana product in Europe, Seyffart pointed out.
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 Source: <a href="https://x.com/JSeyff/status/1803896507067691357" target="_blank" rel="noopener nofollow">James Seyffart </a>
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Solana ETF in the works: 3iQ files for new ETP in Canada

Cointelegraph

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