Digital asset manager 3iQ has filed to list a Solana ETP on the Toronto Stock Exchange, aiming to introduce North America’s inaugural Solana-tied ETP pending approval. According to a press release dated June 20, a preliminary prospectus for The Solana Fund (QSOL) has been submitted to securities regulatory authorities across all provinces and territories of Canada. 3iQ, headquartered in Toronto, emphasized that QSOL would be the first exchange-traded product (ETP) linked to Solana accessible in North America, pending regulatory approval.
The fund is designed to offer exposure to SOL, tracking the daily price movements of the U.S. dollar value of SOL. According to the press release, investors will have the opportunity for “long-term capital appreciation” and access to staking yields generated by the network through Coinbase Custody, managed by 3iQ. The SOL tokens will be held by crypto custodians Tetra Trust and Coinbase Custody.
The exact timeline for the fund’s availability to investors remains uncertain. In addition to Solana, 3iQ currently provides exchange-traded funds that track Bitcoin (3iQ Bitcoin ETF) and Ethereum (3iQ Ethereum ETF). Despite these developments, Solana has seen a decline, with its value decreasing by over 25% in the past 30 days, based on CoinMarketCap data.
