In A Nutshell:
Investment firm 3iQ has applied to introduce Canada's first Solana exchange-traded product (ETP), the Solana Fund, which aims to provide exposure to SOL without requiring blockchain technology use. If approved, the fund will trade on the Toronto Stock Exchange under the ticker QSOL. The timeline for availability is currently unclear.Investment firm 3iQ has applied to introduce the first Solana exchange-traded product (ETP) in Canada. The proposed Solana Fund aims to provide Canadian investors with exposure to SOL without the need for hot wallets or other blockchain-related technology, according to a statement from 3iQ on Thursday. If approved, the fund will be listed on the Toronto Stock Exchange under the ticker QSOL.
Greg Benhaim, Executive Vice President of Product and Head of Trading at 3iQ, stated, “As pioneers in digital asset investment management, we are excited to continue our mission of delivering regulated investment vehicles that meet the highest standards, partnering with top-tier firms to provide individual and institutional investors with efficient access to the crypto asset class.”
The timeline for when the Solana Fund will become available to investors remains unclear, pending approval.
Canadian regulators approved spot bitcoin and ether ETFs, such as the Purpose Ether ETF and CI Galaxy Ethereum ETF, in 2021. These approvals set a precedent a couple of years before similar crypto-based funds were allowed to operate in the U.S.
