Haider Jamal

Jun 21, 2024

Inaugural Solana ETF Will Launch On Toronto Stock Exchange

The Cent3iQ Digital Asset Management, a Canadian fund manager specializing in digital assets, has initiated the process to publicly offer the first Solana exchange-traded fund (ETF) in North America. The Solana Fund, trading under the ticker QSOL, is set to be listed on the Toronto Stock Exchange, providing investors exposure to SOL.


Slow And Steady

Greg Benhaim, Executive Vice President of Product and Head of Trading at 3iQ, expressed both excitement and cautious optimism for expanding their lineup of regulated investment options. These offerings adhere to rigorous standards and involve collaborations with top-tier partners, enhancing accessibility to the crypto asset class for both individual and institutional investors.

The Fund aims to mirror SOL and its daily price movements, foster long-term capital growth, and generate staking rewards. 3iQ has a track record of digital asset innovation, having launched the first publicly traded Bitcoin and Ether funds in Canada.


The US Needs To Take Notice

Commenting on the whole ordeal, Bloomberg ETF analyst Eric Balchunas remarked on the relative scarcity of similar filings in the US. He suggested that asset managers might view such moves as strategic positioning in anticipation of a potential regulatory shift supportive of cryptocurrencies.

VanEck, a prominent investment firm, has also shown confidence in Solana and its potential, having previously introduced a Solana ETN on the Deutsche Börse in 2021. VanEck analysts foresee a surge in filings by asset managers aiming to enter the spot ETF market in 2024, reflecting growing interest in digital assets.


Top News

Read more latest news

Press Releases

Do Kwon Trial Begins Despite The Founder

3 months ago Mar 26, 2024

The civil fraud trial involving Ter... Read more

Goldman Sachs Clients Look To Get Back

3 months ago Mar 25, 2024

Institutional clients served by the... Read more

New Payment Limit For Crypto Wallets Scrapped

3 months ago Mar 25, 2024

The recent Anti-Money Laundering re... Read more

Bitcoin Undergoes Price Correction As International Economies

3 months ago Mar 24, 2024

A significant portion of the crypto... Read more

Join Our Newsletter

Get the latest trends and updates on our crypto community.