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Canadian digital asset funding fund supervisor 3iQ Digital Asset Administration has filed for an preliminary public providing of its Solana exchange-traded product (ETP), the primary of its type in North America.
The Solana Fund might be listed on the Toronto Inventory Alternate underneath the ticker image QSOL and can present publicity to Solana’s digital forex, SOL.
Replace: 3iQ has filed to launch the primary Solana ETF in Canada (and North America), and is contemplating launching underneath the ticker: $QSOLCanada launched a spot Bitcoin ETF and a spot Ethereum ETF even earlier than the U.S. launched futures ETFs for both asset. h/t Alex Stabscott https://t.co/Ra6vDdepil pic.twitter.com/LRO4NJWhAr
— James Seifert (@JSeyff) June 20, 2024
“3iQ is happy to associate with 3iQ to deliver the facility of blockchain to the market,” mentioned Greg Ben-Haim, government vp of merchandise and head of buying and selling at 3iQ.
“We sit up for persevering with our mission of offering a regulated funding car whereas embodying the best requirements and dealing with best-in-class companions to allow retail and institutional traders to effectively entry the crypto asset class.”
The fund seeks to offer unit holders with each day worth volatility in SOL, long-term capital appreciation and staking yields. 3iQ has a historical past of innovation in digital belongings, together with the primary listed Bitcoin and Ethereum funds in Canada.
Commenting on 3iQ’s transfer, Bloomberg ETF analyst Eric Balchunas tweeted that he was stunned extra asset managers hadn’t tried the same submitting within the U.S. and that this could possibly be a strategic transfer to place himself higher within the occasion of a crypto-friendly regulatory shift underneath the brand new administration.
That is fascinating, and I am a bit stunned there aren’t extra makes an attempt like this within the US – issues like name choices in case Trump wins and the SEC Chairman is instructed to help cryptocurrencies (till the “however, however, there aren’t any futures contracts on this coin” rebuttal now not issues).
— Eric Balchunas (@EricBalchunas) June 20, 2024
Outstanding funding administration agency VanEck has been vocal about its perception in Solana’s potential, launching a Solana ETN on German inventory trade Deutsche Börse in 2021.
In a latest report, VanEck analysts Matthew Siegel and Patrick Busch predicted that Solana will enter the spot ETF wars in 2024 following a wave of filings by asset managers.
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