Digital asset manager 3iQ has taken a bold step towards innovation in the cryptocurrency sector by filing for a Solana exchange-traded product (ETP) listing on the Toronto Stock Exchange. This move, if approved, will mark a first for North America, positioning Canada once again as a leader in the crypto exchange market. The Solana Fund (QSOL) aims to provide investors with exposure to SOL, highlighting daily price movements against the U.S. dollar.

The introduction of QSOL follows Canada’s history of trailblazing in cryptocurrency ETFs, having launched the world’s first spot Bitcoin and Ethereum ETFs ahead of the U.S. This new ETP will not only offer investment in Solana but also allow holders to accrue interest from native SOL staking yields, estimated between 6-8%. With Coinbase Custody and Tetra Trust as custodians, the infrastructure is set for institutional staking.

This filing by 3iQ underscores Canada’s progressive stance on digital assets, encouraging broader acceptance and integration of cryptocurrencies into mainstream finance. As Solana ETPs gain traction globally, Canada’s potential approval of QSOL could further stimulate the market, proving advantageous for crypto enthusiasts and investors alike.

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