New Solana ETF Coming Soon As Canada’s 3iQ Submits ETP Proposal ⋆ ZyCrypto
The post New Solana ETF Coming Soon As Canada’s 3iQ Submits ETP Proposal ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     With spot exchange-traded funds (ETFs) holding Bitcoin firmly established on U.S. exchanges and spot ether ETFs looming following key approvals in May, a new proposal for the first Solana exchange-traded product in North America was announced on June 20. 3iQ Files Prospectus To List A Solana ETP In Canada Canadian investment firm 3iQ announced today that it has submitted a prospectus with the Ontario Securities Commission to launch the Solana Fund (QSOL), which it claimed “would be the first Solana exchange-traded product to be listed in North America.” 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… pic.twitter.com/7ghv05f8gU — 3iQ Digital Asset Management (@3iq_corp) June 20, 2024 The fund would debut on the Toronto Stock Exchange (TSX) under the QSOL ticker if approved. Solana, launched in 2020, is the fifth-largest cryptocurrency with a market cap of $61.48 billion as of publication time, behind only Bitcoin (BTC), Ethereum (ETH), Tether’s USDT, and BNB (BNB). “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,” said Greg Benhaim, executive vice president of product and head of Trading at 3iQ, in a June 20 press release. Advertisement   3iQ says the fund will be offered on the Toronto Stock Exchange “in relation to an initial public offering.” The Solana Fund will offer holders exposure to SOL’s daily price movements and staking yields generated by the network, which the asset manager estimates to be around 6-8%. Canada’s Progressive Crypto Stance 3iQ was one of the first firms to…
Filed under: News - @ June 22, 2024 1:26 pm