Solana ETF Initiative: 3iQ Files for ETP in Canada

After Bitcoin and Ethereum ETF approvals in the US, a digital asset management company aims to launch a Solana ETF in Canada.

If approved, North America’s first Solana ETP will be listed on the Toronto Stock Exchange as QSOL.

Solana has seen exponential growth since its inception and many crypto investors eagerly anticipate news about a potential SOL ETF.

3iQ Digital Asset Management

3iQ Digital Asset Management, a Canadian digital asset investment firm, recently submitted its proposal for a Solana ETP (exchange-traded product). The company is known for operating a crypto investment fund and portfolio, serving clients in Canada.

This was announced on the social media platform X on June 21st, where the company wrote: “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.”

In an official press release, it was revealed that 3iQ applied to list the Solana Fund under the ticker symbol QSOL on the Toronto Stock Exchange (TSX).

“This continues our track record of innovation, and if receipt of applicable regulatory approvals is obtained,” the company wrote, while also pointing out the fact that this would be “the first Solana exchange-traded product to be listed in North America.”

The QSOL Fund

3iQ outlined the following investment objectives in its press release.

• Exposure to the digital currency SOL, and the daily price movements of the U.S. dollar price of SOL.
• The opportunity for long-term capital appreciation.
• Staking yield generated by the network.

The company also listed Coinbase Custody and Tetra Trust as the official custodians for QSOL while explaining that Coinbase would also provide the necessary infrastructure for institutional staking.

Solana is a key player in the decentralized application space, renowned for high scalability and transaction speeds. It has seen substantial growth and adoption over the years and some would even argue that it’s competing with Ethereum (ETH). This performance is further fueling investor interest in a dedicated SOL ETF.

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