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, Deputy CEO and Head of Trading at 3iQ, stated in a press release:
The fund, called Solana Fund, will trade under the code 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 yield of approximately 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, Strategy Advisor at 3iQ, emphasized in an interview:
However, it should be noted that the Solana financial product being launched by 3iQ is not the first of its kind globally. According to Bloomberg analyst James Seyffart, there are already Solana ETPs with assets under management exceeding $1 billion worldwide, including the 21Shares Solana Stake ETP and ETC Group Physical Solana in Europe.
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