Crypto:
30601
Bitcoin:
$58.554
% 2.60
BTC Dominance:
%53.3
% 0.09
Market Cap:
$2.13 T
% 0.20
Fear & Greed:
25 / 100
Bitcoin:
$ 58.554
BTC Dominance:
% 53.3
Market Cap:
$2.13 T

Solana ETF Application Filed: Canadian Company Takes First Step

Solana

Following the approval of Bitcoin and Ether spot ETFs in the US, one of the most talked-about topics in the crypto world has been Solana ETFs. Canadian digital asset management company 3iQ has made a major move by filing an official application for an ETF to be called the Solana Fund.

Canadian digital asset/cryptocurrency management company 3iQ has filed an official application with the country’s regulator for a Solana ETF. 3iQ has also officially announced the application. If the fund is approved, the ETF will be listed on the Toronto Stock Exchange (TSE).

“We have officially filed the preliminary prospectus for the Solana Fund (QSOL) in Canada,” 3iQ said in a statement. The preliminary prospectus is the first document a company files with the regulator to offer certain securities to the public.

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The company’s statement also said that if the Solana ETF is approved, it would be a first for the North American region.

The statement also said that customers who own the Solana ETF will also be able to benefit from “estimated” staking yields of between 6% and 8%. In contrast, the SEC has not accepted this in US spot Ether ETFs and has asked issuers to remove staking from their ETF applications. All companies have since removed staking from their applications.

3iQ will also use Coinbase for staking services for the Solana Fund. Coinbase Custody and Tetra Trust have also been agreed upon for custody services.

3iQ also offers Bitcoin and Ether ETF services. The Bitcoin and Ether ETFs were approved in Canada in February during the hottest days of the 2021 bull run.

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