- The Solana fund would be safeguarded by Coinbase Custody and Tetra Trust.
- Solana ETP holders may be eligible to earn interest on native SOL staking yields of 6-8%.
In what would supposedly be the first of its kind in North America, digital asset manager 3iQ has applied to have its Solana exchange-traded product listed on the Toronto Stock Exchange (TSE) in Canada. Following an initial public offering, 3iQ informed X on June 20 that they had filed a preliminary prospectus for The Solana Fund (QSOL) in Canada.
According to the business, if authorized, it would make history. As the first Solana ETP to be listed in North America. 3iQ said that, with the exception of Quebec, all provinces and territories in Canada have received QSOL on a preliminary prospectus from the securities regulatory authorities.
Banking on Solana
Moreover, one would be able to participate in the daily price fluctuations of the US dollar price SOL. And the digital currency SOL using QSOL. Solana ETP holders may be eligible to earn interest on native SOL staking yields of 6-8%, according to 3iQ’s estimations.
The Solana fund would be safeguarded by Coinbase Custody and Tetra Trust. With Coinbase Custody also providing the fund’s unique institutional staking infrastructure.
According to Yahoo Finance, two of 3iQ’s primary cryptocurrency products listed on the TSE, the 3iQ Bitcoin ETF (BTCQ) and the 3iQ Ether Staking ETF (ETHQ), have net assets of around $233 million and $38.7 million, respectively.
In addition to QBTC and QETH, the company has The Ether Fund. Spot Bitcoin ETFs were cleared to begin in February 2021 by Canadian securities authorities. Followed two months later by spot Ether products.
Bloomberg ETF analyst James Seyffart pointed out that the United States did not get futures ETFs for Bitcoin or Ethereum until after Canada had already offered spot ETFs for both assets.
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