The post After Bitcoin and Ethereum, a Surprise Altcoin Gets ETF Footsteps appeared on BitcoinEthereumNews.com.

3iQ Corp, one of Canada’s leading investment fund managers, has filed to launch the first Solana Exchange Traded Fund (ETF) in Canada and thus in North America. The ETF is planned to be launched under the ticker QSOL. Bloomberg’s ETF analyst James Seyffart emphasized the importance of this move, saying, “There were spot Bitcoin and spot Ethereum ETFs in Canada before there were futures ETFs for both assets in the US.” To be introduced through an upcoming Initial Public Offering (IPO), the Solana Fund aims to provide investors with direct exposure to SOL without the complexities and technical challenges of digital asset management. Launched in 2020, Solana has become one of the largest and fastest blockchain networks in the world, with a market value of approximately $65 billion. Unlike Bitcoin, which was designed as a payment system, Solana was designed for high-performance blockchain applications. Its focus on high processing speeds and low costs makes it attractive to developers. According to the official statement, 3iQ will keep its assets in cold storage through a trusted partnership with Tetra and Coinbase, ensuring the highest level of security for investors. As part of its investment strategy, Solana Fund will stake investor SOLs to earn rewards. Staking allows investors to earn passive income with estimated returns ranging from 6-8%. These awards, less applicable fees, will be reinvested for the benefit of shareholders. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/after-bitcoin-and-ethereum-a-surprise-altcoin-gets-etf-footsteps/

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Filed under: News - @ June 22, 2024 11:20 am