{"id":538403,"date":"2024-06-21T10:00:48","date_gmt":"2024-06-21T10:00:48","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=538403"},"modified":"2024-06-21T10:00:48","modified_gmt":"2024-06-21T10:00:48","slug":"solana-etf-proposed-by-3iq-aims-for-first-north-american-approval-on-toronto-stock-exchange","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-etf-proposed-by-3iq-aims-for-first-north-american-approval-on-toronto-stock-exchange","title":{"rendered":"Solana ETF Proposed By 3iQ Aims For First North American Approval On Toronto Stock Exchange"},"content":{"rendered":"

Fund manager 3iQ has filed for a Solana ETF (exchange-traded fund) to be listed on Canada’s Toronto Stock Exchange (TSE), potentially making it the first such product to gain approval in North America.<\/span><\/p>\n

“We have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering,” 3iQ said in a Jun. 20 X <\/span>post<\/span><\/a>.<\/span><\/p>\n

\"How<\/p>\n

A Solana ETF Could Start Trading In All Canadian Territories Except Quebec <\/span><\/h2>\n

3iQ’s <\/span>Solana<\/span><\/a> ETF filed a preliminary prospectus with securities regulators in every Canadian province and territory except Quebec, <\/span>according<\/span><\/a> to the asset manager. <\/span><\/p>\n

If approved, QSOL will offer investors “exposure” to Solana’s native SOL token, and will track the “daily price movements of the U.S. dollar price.” <\/span><\/p>\n

QSOL holders might be able to accumulate interest from staking yield opportunities within the Solana ecosystem as well. 3iQ estimates that this interest rate could be between 6% and 8%.<\/span><\/p>\n

To custody the funds, 3iQ will utilize Coinbase Custody and Tetra Trust. Coinbase Custody will also provide QSOL with exclusive institutional staking infrastructure.<\/span><\/p>\n

\n

🚨BREAKING: @coinbase<\/a> institutional announces that it will be the custodian for North America's first Solana ETP, by @3iQ_corp<\/a>. pic.twitter.com\/PsptltPM3y<\/a><\/p>\n

— SolanaFloor (@SolanaFloor) June 20, 2024<\/a><\/p><\/blockquote>\n