Canadian cryptocurrency asset management company 3iQ Digital Holdings announced today that it has submitted a prospectus to the Ontario Securities Commission (OSC) with plans to launch the first publicly traded Solana ETP in North America on the Toronto Stock Exchange (TSX).
Greg Benhaim, Chief Operating Officer and Head of Trading at 3iQ, stated in a press release that the fund, named Solana Fund, will trade under the ticker symbol QSOL if approved by the OSC. In addition to offering exposure to price fluctuations of SOL, it will also provide exposure to staking yields generated by the network, with the company estimating staking yields of approximately 6-8%. The product will be custody by Coinbase Custody and Tetra Trust, with Coinbase Custody providing exclusive institutional staking infrastructure for the Solana Fund.
Christopher Matta, strategic advisor at 3iQ, emphasized that while 3iQ’s planned Solana financial product is not the first of its kind globally. Bloomberg analyst James Seyffart noted 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.