3iQ plans North America’s first Solana exchange-traded product (ETP).
The Solana Fund offers Canadian investors easy exposure to SOL without complex blockchain tech.
Preliminary prospectus filed for Class A and Class F units of The Solana Fund.
3iQ Corp. (“3iQ”), a global pioneer in digital asset investment solutions, has announced that The Solana Fund is on the horizon. This will be North America’s first Solana exchange-traded product (ETP).
Canadian crypto asset company 3iQ announced that it has applied to launch Solana ETP in Canada. The proposed ETP is called Solana Fund and will provide Canadian investors with SOL investment opportunities. If approved, the fund will be listed on the Toronto Stock Exchange and…
— Wu Blockchain (@WuBlockchain) June 21, 2024
The Solana Fund aims to provide Canadian investors with exposure to Solana (SOL), the native digital asset of the Solana blockchain. Unlike traditional investment vehicles, this ETP allows investors to participate in SOL’s price movements without navigating complex blockchain technology.
Preliminary Prospectus Filed
The Solana Fund has filed a preliminary prospectus with securities regulatory authorities across Canada (except for Québec). This move signals an initial public offering of Class A and Class F units of the Fund.
3iQ has applied to list the Class A units of The Solana Fund on the TSX under the ticker symbol “QSOL”. If approved, this listing will mark a significant milestone for the crypto industry.
The Fund seeks to achieve two primary objectives; exposure to SOL and long-term capital appreciation. Unitholders will gain exposure to SOL’s daily price movements, denominated in U.S. dollars. Investors can benefit from potential long-term growth.
3iQ plans to stake the SOL held in the Fund’s portfolio. By doing so, they aim to earn rewards, which will be reinvested for the benefit of unitholders after deducting applicable fees.
3iQ previously launched The Bitcoin Fund (TSX: QBTC) and The Ether Fund (TSX: QETH), the first publicly traded bitcoin and ether funds in Canada. Additionally, The Ether Fund and the 3iQ Ether Staking ETF (TSX: ETHQ) were the first ETPs in North America to incorporate staking ether into their investment strategies.
Solana, a.k.a the Ethereum killer, boasts remarkable transaction speeds and scalability. As a decentralized network designed for high-performance decentralized applications (dApps) and smart contracts, Solana has caught the attention of investors worldwide.
Read Also
Pro-Bitcoin Candidate Javier Milei Leads Preliminary Presidential Voting in Argentina
DeFi Technologies Introduces XRP ETP to Boost Crypto Investments in Europe
WisdomTree Adds Solana, Cardano, Polkadot ETPs
Netherlands Announces Listing a New Spot Bitcoin (BTC) ETP
Grayscale Fights for Ethereum Spot ETF Approval Amid SEC Delay
The post Solana ETP Set to Shine in Toronto with 3iQ’s New Listing, New SOL ATH Soon? appeared first on Crypto News Land.
