Ethereum

Solana

James

Canadian investment firm 3iQ Corp has filed a preliminary prospectus to offer The Solana (SOL) Fund (QSOL) in Canada. This proposed exchange-traded product would be the first <a href="https://coingape.com/solana-next-after-ethereum-etf-approval-matrixport-co-founder/">Solana ETF</a> listed in North America, expanding the range of cryptocurrency-based ETFs available to investors. 
<h2 id="strong-toronto-stock-exchange-to-list-solana-etf-strong">Toronto Stock Exchange to List Solana ETF</h2> 
3iQ Corp, known for its Bitcoin and Ethereum ETFs, has announced plans to offer a Solana ETF on the <a href="https://coingape.com/cryptocurrency-exchanges/best-crypto-exchanges-canada/">Toronto Stock Exchange</a>. The Solana Fund aims to provide investors with simplified Solana exposure without needing technical expertise. The fund will stake SOL to earn rewards for its investment strategy. This move aligns with the company’s broader strategy to diversify its cryptocurrency offerings and capitalize on emerging trends in the digital asset market. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 3iQ Corp. is pleased to announce that we have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering. 
 This continues our track record of innovation, and if receipt of applicable regulatory approvals is obtained, the… <a href="https://t.co/7ghv05f8gU">pic.twitter.com/7ghv05f8gU</a> 
 — 3iQ Digital Asset Management (@3iq_corp) <a href="https://twitter.com/3iq_corp/status/1803874192875753833?ref_src=twsrc%5Etfw">June 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The announcement follows the recent approval of <a href="https://coingape.com/bitwise-debuts-nft-mintable-ethereum-eth-advert/">spot Ethereum ETFs</a>&nbsp;in the U.S., signaling growing regulatory acceptance of cryptocurrency-based investment products. Analysts believe this could pave the way for more diverse crypto ETFs in the future. The filing also highlights 3iQ’s commitment to staying at the forefront of cryptocurrency investment options, potentially attracting more investors. 
<h2 id="strong-sol-etf-could-follow-ethereum-s-lead-strong">SOL ETF Could Follow Ethereum’s Lead</h2> 
With a market capitalization of $61 billion, Solana is the fifth-largest cryptocurrency, trailing only Bitcoin, Ethereum, <a href="https://coingape.com/tether-faces-renewed-terror-and-illicit-finance-allegations/">Tether</a>, and Binance Coin. The introduction of a Solana ETF in Canada could enhance market liquidity and provide a new avenue for institutional and retail investors to gain exposure to the asset. 
British bank Standard Chartered has predicted that Solana and XRP might be the following cryptocurrencies to receive ETF approval from the U.S. Securities and Exchange Commission (SEC). This prediction is based on the technological similarities between Solana and Ethereum, which could make it challenging for the SEC to classify them differently. 
William Quigley, co-founder of Tether and WAX, suggested that Solana could be the next popular cryptocurrency for ETFs following the successful launch of Bitcoin spot ETFs. He noted that new financial products often lead to similar offerings surging until the market reaches saturation. This trend is evident in the substantial investments already directed towards <a href="https://coingape.com/not-a-single-spot-bitcoin-etf-saw-inflows-on-tuesday-new-outflows-at-152-million/">Bitcoin spot ETFs</a>&nbsp;and the anticipation surrounding the launch of spot Ethereum ETFs. 
<h2 id="strong-u-s-awaits-launch-of-ethereum-etfs-strong">U.S. Awaits Launch of Ethereum ETFs</h2> 
Globally, Solana exchange-traded products (ETPs) are already well-established, with over $1 billion in assets under management. Providers such as 21Shares, VanEck, and WisdomTree have introduced Solana funds in various markets. Bloomberg analyst James Seyffart highlighted Canada’s pioneering role in launching spot Bitcoin and Ethereum ETFs ahead of the U.S., emphasizing the country’s progressive stance on cryptocurrency investments. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 You guys would be stunned to realize we already have over $1 Billion in Solana ETPs elsewhere in the world!! <a href="https://t.co/y3zSZrHJGo">pic.twitter.com/y3zSZrHJGo</a> 
 — James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1803896507067691357?ref_src=twsrc%5Etfw">June 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In the U.S., the focus remains on the imminent launch of spot Ethereum ETFs, which were unexpectedly approved by the SEC last month. <a href="https://coingape.com/bitwise-ceo-hints-at-major-announcement-spot-ether-etf-launch-likely-by-july-4/">Bitwise</a>, a prominent asset management firm, has started promoting its Ethereum ETF through television advertisements, indicating high expectations for its performance. Analysts predict these funds will go live on July 2, potentially setting a precedent for future cryptocurrency ETFs. 
Also Read: <a href="https://coingape.com/solana-next-after-ethereum-etf-approval-matrixport-co-founder" target="_blank" rel="noopener">Solana Next in Line After Ethereum ETF Approval: Matrixport Co-founder</a> 
The post <a href="https://coingape.com/canada-may-see-first-solana-etf-as-3iq-submits-etp-filing/">Solana ETF Odds Rises As 3iQ Submits North America’s First SOL ETP Filing</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Solana ETF Odds Rises As 3iQ Submits North America’s First SOL ETP Filing

목차

Coingape News Media

2024년 6월 21일에 게재된 다른 기사

Staynex Announces Strategic Partnership With Japan’s Web3-aaS Blockchain Infrastructure Pioneer T...

Worldcoin Resumes Operations in Kenya After Probe Closure

Bitcoin ETF Capital Drain Deepens With $139 Million Outflow

Bitcoin Price Drops Below Key Support Level

Tech mogul Michael Dell posts about Bitcoin online

Cryptocurrency Render Down More Than 3% Within 24 hours

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!