Ethereum

Solana

Billion

The overall crypto community is eagerly awaiting July 2, 2024, for the potential approval of a spot Ethereum ETF (Exchange Traded Fund). Amid this anticipation, Canadian crypto asset company 3iQ has garnered massive attention following its recent announcement. On June 20, 2024, 3iQ published a report stating that it has applied to launch a Solana ETP (Exchange Traded Product) in Canada for its investors. North America’s first Solana ETP to launch&nbsp; 
Additionally, they have filed a preliminary prospectus for The Solana Fund (QSOL) with the securities regulatory authorities in all Canadian provinces and territories (except for Québec). 
If approved, it would become the first Solana ETP to be listed in North America, according to the firm’s report. The Class A units of the Fund are set to be listed on the Toronto Stock Exchange (TSX) under the ticker symbol “QSOL.”&nbsp; 
3iQ also highlighted that the investment objective of The Solana Fund (QSOL) is to provide investors with exposure to SOL’s price movements against the U.S. dollar, long-term capital appreciation, and staking yield generated by the network. Moreover, 3iQ’s Solana ETP holders have the potential to earn additional interest through native SOL staking yield, estimated to be between 6-8%. 
Following this significant development in the crypto realm, Greg Benhaim, Executive Vice President of Product and Head of Trading at 3iQ, stated, “3iQ seeks to set a global standard of excellence and we’re proud to work closely with the OSC to responsibly enhance the digital asset investment landscape in Canada.” History of 3iQ in Digital Assets Innovation&nbsp; 
The firm also highlighted in their report that 3iQ, known for its history of innovation in digital assets, previously launched The Bitcoin Fund (TSX: QBTC) and The Ether Fund (TSX: QETH) in 2021, which were the first publicly traded Bitcoin and Ether funds in Canada, respectively. 
Following the potential launch of the Solana ETP in Canada, ETF expert James Seyffart posted on X, noting that Canada had spot Bitcoin and spot Ethereum ETFs before the U.S. even got <a href="https://news.todayq.com/will-solana-get-its-etf-regulatory-challenges-pose-major-hurdles/">futures ETFs</a> for either asset. In another post, Seyffart added, “You guys would be stunned to realize we already have over $1 billion in Solana ETPs elsewhere in the world!” 
You guys would be stunned to realize we already have over $1 Billion in Solana ETPs elsewhere in the world!! 
Despite this significant development, Solana’s (SOL) price remains unaffected. Currently, it is trading near $131, and in the last 24 hours, it experienced a 4% price drop. Over a longer time frame, SOL has seen over a 10% price drop in the last 7 days and a 26% price drop in the last 30 days. The market remains quite unstable and unpredictable at present.

Can Solana copy 2023 surge after ETP filings?

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