3iQ Digital Asset Management Announces Preliminary Prospectus for The Solana Fund

3iQ Digital Asset Management Announces Preliminary Prospectus for The Solana Fund

3iQ Digital Asset Management, a leading Canadian digital asset investment firm, has filed a preliminary prospectus for The Solana Fund. This marks the first step towards launching the inaugural Solana exchange-traded product (ETP) in North America. The Solana Fund intends to list its Class A units on the Toronto Stock Exchange (TSX) under the ticker symbol “QSOL.”

Introducing Canada’s First Solana ETF

The Solana Fund aims to offer investors exposure to Solana (SOL) by tracking its daily price movements against the US dollar. Additionally, it seeks to provide long-term capital appreciation and generate staking yields through Solana’s network. 3iQ will leverage Coinbase Custody’s institutional staking infrastructure to manage the fund’s investments and portfolio.

3iQ has a history of pioneering digital asset funds in Canada. The firm previously launched The Bitcoin Fund (TSX: QBTC) and The Ether Fund (TSX: QETH), which were the first publicly traded Bitcoin and Ethereum funds in the country. Moreover, QETH and the 3iQ Ether Staking ETF (TSX: ETHQ) were the first in North America to integrate ether staking into their investment strategies.

Greg Benhaim, Executive Vice President of Product and Head of Trading at 3iQ, emphasized the firm’s dedication to setting global standards in digital asset investment.

“We’re proud to work closely with the OSC to responsibly enhance the digital asset investment landscape in Canada. As pioneers in digital asset investment management, we aim to deliver regulated investment vehicles that embody the highest standards for individual and institutional investors,” said Benhaim.

SOL, the native token of the Solana blockchain, is renowned for its high transaction speeds and scalability, positioning it as a significant player in the decentralized finance (DeFi) space. Since its inception in 2020, Solana has experienced substantial growth, becoming the second-largest smart contract platform by market capitalization and trading volume. This makes it a logical choice for 3iQ’s new ETP.

With the introduction of The Solana Fund, 3iQ continues to expand its innovative offerings, further solidifying its position as a leader in digital asset investment.