3iQ Files to List Solana ETP on The Toronto Stock Exchange
Digital asset manager 3iQ has submitted a preliminary prospectus for The Solana Fund (QSOL) to list a Solana-tied ETP on the Toronto Stock Exchange. This would mark the first Solana-linked ETP in North America if regulatory approval is granted.
Implications of 3iQ’s Solana ETP Listing
If regulators approve the QSOL ETP, it would be the first exchange-traded product tied to Solana available in North America, providing investors exposure to SOL and the daily price movements of the U.S. dollar price of SOL. With opportunities for long-term capital appreciation and staking yield through Coinbase Custody, the fund could offer unique benefits to investors. The management of the portfolio will be overseen by 3iQ, with SOL tokens held by crypto custodians Tetra Trust and Coinbase Custody.
Future Availability and Impact on Solana Market
While the timeline for the fund’s availability remains uncertain, 3iQ currently offers Bitcoin and Ethereum ETFs. Despite the exciting news of the Solana ETP, the Solana market has seen a decline of over 25% in the past month, as reported by CoinMarketCap data.
