As a researcher with a background in digital assets and experience following the regulatory landscape, I’m excited about 3iQ’s latest move to list a Solana ETP on the Toronto Stock Exchange. This would be a significant milestone for North America’s digital asset market if approved, as it would represent the first exchange-traded product directly tied to Solana.
Expert: 3iQ, a leading digital asset manager, has applied for Toronto Stock Exchange (TSE) listing of a Solana Exchange-Traded Product (ETP). If granted, it will mark the first North American ETP linked to the Solana blockchain.
Based on a press release from June 20th, a draft prospectus for The Solana Fund (QSOL) has been submitted to the securities regulators in each province and territory of Canada for review.
In a recent announcement issued from their Toronto office, the company indicated that, upon regulatory approval, they would introduce the first exchange-traded product (ETP) linked to Solana in North America.
3iQ Corp. is thrilled to reveal that we have filed a preliminary prospectus in Canada for The Solana Fund (QSOL), marking another milestone in our commitment to innovation. Upon obtaining necessary regulatory approvals, we will proceed with this initial public offering.— 3iQ Digital Asset Management (@3iq_corp) June 20, 2024
According to the statement from 3iQ, this fund offers investors the chance to invest in Solana (SOL) and track its daily price fluctuations against the US dollar. By holding SOL tokens through Coinbase Custody, investors can potentially earn both long-term capital gains and staking rewards from the network. Tetra Trust and Coinbase Custody will securely store the SOL tokens on behalf of the fund, which will be managed by 3iQ.
The schedule for investors to access the fund’s resources is still undecided. In addition to Solana, 3iQ manages exchange-traded funds that mirror Bitcoin (3iQ Bitcoin ETF) and Ethereum (3iQ Ethereum ETF). However, Solana has been experiencing a significant decrease, dropping more than 25% in the last month, as indicated by CoinMarketCap statistics.
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2024-06-21 10:48