3iQ plans to launch first Solana ETF in Canada

Fund manager 3iQ is planning to to launch the first Solana ETF in Canada. The goal is to launch the ETF on the Toronto Stock Exchange (TSX) under the ticker “QSOL.”

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Special design for Solana ETF

The special thing about the ETF that 3iQ wants to launch for Solana is that investors also benefit from the staking returns on the coin’s network. Coinbase has been appointed as the managing partner for 3iQ’s new project.

Canada is not an unusual location for the launch of the first Solana ETF. The country was also the first in the world to launch Bitcoin ETFs. Those launches took place well before the launch in the United States.

In that respect, Canada is a pioneering country for the launch of crypto-related ETFs.

In addition to the Bitcoin ETFs, Ethereum ETFs have also been launched in Canada. The Ether Fund (QETH) was also from 3iQ and was the first Ethereum fund in Canada. The special thing is that with that Ethereum ETF you also get the staking proceeds from Ethereum.

These are currently not even included in the applications for Ethereum ETFs in the United States.

We want to pioneer

Greg Benhaim, a top executive at 3iQ, says the company has set itself the goal of building the global standards for investment products in digital assets.

“We are proud to work closely with the OSC to responsibly shape the digital asset investment landscape in Canada. As pioneers in managing investments in digital assets, our goal is to create regulated investment products that include the highest standards for individual and institutional investors,” said Benhaim.

Solana is known as a blockchain for fast transactions and scalability. It is a project that focuses on a good user experience and is currently especially popular for launching memecoins.

Since its launch in 2020, Solana has grown extremely quickly and is the largest smart contract platform in the world after Ethereum. In that respect, it is a logical choice for 3iQ’s next ETF in Canada.

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