{"id":14557,"date":"2024-06-21T10:08:45","date_gmt":"2024-06-21T07:08:45","guid":{"rendered":"https:\/\/forklog.com\/en\/3iq-seeks-approval-for-canadas-first-solana-etf\/"},"modified":"2024-06-21T10:08:45","modified_gmt":"2024-06-21T07:08:45","slug":"3iq-seeks-approval-for-canadas-first-solana-etf","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/3iq-seeks-approval-for-canadas-first-solana-etf\/","title":{"rendered":"3iQ Seeks Approval for Canada&#8217;s First Solana ETF"},"content":{"rendered":"<p>Digital asset manager 3iQ has filed for the registration of Canada&#8217;s first Solana ETF, offering staking rewards of 6-8% annually.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">3iQ Corp. is pleased to announce that we have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering. <\/p>\n<p>This continues our track record of innovation, and if receipt of applicable regulatory approvals is obtained, the\u2026 <a href=\"https:\/\/t.co\/7ghv05f8gU\">pic.twitter.com\/7ghv05f8gU<\/a><\/p>\n<p>\u2014 3iQ Digital Asset Management (@3iq_corp) <a href=\"https:\/\/twitter.com\/3iq_corp\/status\/1803874192875753833?ref_src=twsrc%5Etfw\">June 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The listing is planned for the Toronto Stock Exchange (TSE).<\/p>\n<p>Coinbase Custody and Tetra Trust will serve as custodians for the product. The former will also provide the infrastructure for staking participation.<\/p>\n<p>The company has submitted documents to securities regulators in all provinces and territories of Canada, except Quebec.<\/p>\n<p>Currently, 3iQ <a href=\"https:\/\/3iq.io\/ca\/our-funds\">manages<\/a> the 3iQ Bitcoin ETF (BTCQ) and 3iQ Ether Staking ETF (ETHQ), both traded on the TSE. The <span data-descr=\"assets under management \" class=\"old_tooltip\">AUM<\/span> of the former is $233 million, while the latter stands at $38.7 million.<\/p>\n<p>In February 2021, Canada became the first country to approve an exchange-traded product based on the first cryptocurrency. In April, the country&#8217;s regulators approved the trading of an ETH-ETF.<\/p>\n<p>According to Bloomberg analyst James Seyffart, investors have poured over $1 billion into various Solana-based funds.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">You guys would be stunned to realize we already have over $1 Billion in Solana ETPs elsewhere in the world!! <a href=\"https:\/\/t.co\/y3zSZrHJGo\">pic.twitter.com\/y3zSZrHJGo<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1803896507067691357?ref_src=twsrc%5Etfw\">June 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Previously, Matrixport co-founder Daniel Yan <a href=\"https:\/\/forklog.com\/en\/news\/matrixport-co-founder-suggests-solana-as-next-etf-candidate\">suggested<\/a> Solana as the next candidate for an ETF launch. Jeffrey Kendrick, head of research at Standard Chartered, also <a href=\"https:\/\/forklog.com\/en\/news\/standard-chartered-identifies-etf-contenders-for-2025\">predicted<\/a> the emergence of an exchange-traded fund on SOL in 2025.\u00a0<\/p>\n<p>This view is shared by Ripple CEO Brad Garlinghouse and Galaxy Digital CEO Mike Novogratz.<\/p>\n<p>JPMorgan <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-casts-doubt-on-sec-approval-of-solana-based-etfs\">expressed doubts<\/a> about such a scenario, citing the interpretation of the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> that most digital assets are considered securities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital asset manager 3iQ has filed for the registration of Canada&#8217;s first Solana ETF, offering staking rewards of 6-8% annually. 3iQ Corp. is pleased to announce that we have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering. This continues our track record of innovation, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1597,771,569,1159],"class_list":["post-14557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-3iq","tag-canada","tag-etf","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14557"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14556"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}