Crypto:
30601
Bitcoin:
$58.577
% 1.56
BTC Dominance:
%53.3
% 0.09
Market Cap:
$2.13 T
% 0.20
Fear & Greed:
25 / 100
Bitcoin:
$ 58.577
BTC Dominance:
% 53.3
Market Cap:
$2.13 T

3iQ Seeks Approval for Solana ETP on Toronto Exchange

3Iq

The first Solana exchange-traded product (ETP) application for Canada has come from investment firm 3iQ.

Solana Fund, the planned ETP, will expose Canadian investors to SOL without requiring hot wallets or other blockchain-related technology, 3iQ said Thursday in a release. Should approval go through, the fund would open under the ticker QSOL on the Toronto Stock Exchange.

Greg Benhaim, executive vice president of product and head of trading at 3iQ, said, “As pioneers in digital asset investment management, we look forward to continuing our mission to deliver regulated investment vehicles—eembodied by the highest standards and working with best-in-class partners—ffor individual and institutional investors to efficiently access the crypto asset class.”

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Should the Solana Fund be approved, it is unknown when investors could access it.

In 2021, the Canadian government approved spot bitcoin and ether ETFs such as the as the CI Galaxy Ethereum ETF and Purpose Ether ETF. The precedent-setting licenses arrived a few years before U.S. authorities initially let comparable crypto-based funds run in the country.

Launched in 2020, SOL ranks seventh among all cryptocurrencies based on market valuation at $61.8 billion.

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