Canadian cryptocurrency asset management company 3iQ Digital Holdings announced today that it has submitted a prospectus to the Ontario Securities Commission (OSC) for the launch of the first publicly traded Solana ETP in North America on the Toronto Stock Exchange (TSX).
Greg Benhaim, the Executive Vice President and Head of Trading at 3iQ, stated in a press release:
The fund, named Solana Fund, will trade under the ticker symbol QSOL if approved by the OSC. In addition to providing exposure to SOL price fluctuations, it will also offer exposure to staking rewards generated by the network, with an estimated staking yield of around 6-8%. The product will be custodied by Coinbase Custody and Tetra Trust, with Coinbase Custody providing exclusive institutional staking infrastructure for the Solana Fund.
Christopher Matta, the Strategy Advisor at 3iQ, emphasized during an interview:
It should be noted that 3iQ’s planned Solana financial product is not the first of its kind globally. Bloomberg analyst James Seyffart has stated that there are already Solana ETPs with assets under management exceeding $1 billion worldwide, including the 21Shares Solana Stake ETP in Europe and the ETC Group Physical Solana.
