Key Takeaways
- • 3iQ has filed a preliminary prospectus with securities regulators in all Canadian provinces and territories for The Solana Fund (QSOL), according to a June 20 press release.
- • If approved, QSOL would be the first exchange-traded product tied to Solana available in North America, and it would list on the Toronto Stock Exchange.
- • The fund would offer exposure to SOL's U.S. dollar price along with staking yield generated by the Solana network, with SOL held by Tetra Trust and Coinbase Custody.
- • No launch timeline has been set, and SOL has fallen more than 25% over the past 30 days, per CoinMarketCap data.
Summary
Digital asset manager 3iQ, headquartered in Toronto, has filed a preliminary prospectus for The Solana Fund (QSOL) with securities regulatory authorities in all provinces and territories of Canada, according to a June 20 press release. The filing seeks a listing on the Toronto Stock Exchange. If regulators approve the product, 3iQ says QSOL would be the first exchange-traded product (ETP) tied to Solana in North America, a claim the firm made in an X statement.
The fund is designed to track the U.S. dollar price of SOL, the Solana network's native token. Investors would gain exposure to what 3iQ describes as long-term capital appreciation, as well as staking yield generated by the network. Staking would be handled through Coinbase Custody, while SOL tokens would be held by crypto custodians Tetra Trust and Coinbase Custody. 3iQ would act as portfolio manager.
The timing of QSOL's availability to investors remains uncertain. 3iQ already offers exchange-traded funds tracking Bitcoin (3iQ Bitcoin ETF) and Ethereum (3iQ Ethereum ETF), and QSOL would extend that lineup to a third digital asset. The filing comes as Solana has weakened, losing more than 25% over the past 30 days according to CoinMarketCap data.
The fund is designed to track the U.S. dollar price of SOL, the Solana network's native token. Investors would gain exposure to what 3iQ describes as long-term capital appreciation, as well as staking yield generated by the network. Staking would be handled through Coinbase Custody, while SOL tokens would be held by crypto custodians Tetra Trust and Coinbase Custody. 3iQ would act as portfolio manager.
The timing of QSOL's availability to investors remains uncertain. 3iQ already offers exchange-traded funds tracking Bitcoin (3iQ Bitcoin ETF) and Ethereum (3iQ Ethereum ETF), and QSOL would extend that lineup to a third digital asset. The filing comes as Solana has weakened, losing more than 25% over the past 30 days according to CoinMarketCap data.
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