Crypto: Canada paves the way for the first Solana ETF!

In a significant development for the crypto market in Canada, digital asset manager 3iQ has filed an application to list a Solana-based exchange-traded product (ETF) on the Toronto Stock Exchange (TSE). This initiative marks the first time that such a Solana-related financial product has been offered in North America.

The Solana ETF is coming to Canada!

The Solana ETF will be listed under the symbol QSOL and will provide shareholders with exposure to the SOL crypto! But also, the possibility of benefiting from the native staking yields of the Solana blockchain. Staking returns are estimated between 6 and 8%! Which represents an attractive opportunity for investors looking to generate passive income while participating in the security and stability of the Solana network.

QSOL's filing was made on a preliminary prospectus with securities regulatory authorities. And this, in all Canadian provinces and territories, with the exception of Quebec. If approval is grantedQSOL will provide exposure to SOL crypto and daily SOL price movements in US dollars.

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Coinbase Custody and Tetra Trust will act as custodians. While Coinbase Custody will provide exclusive institutional staking infrastructure for the Solana fund. This ensures increased security and reliability for investors looking to engage in the crypto space through a regulated investment vehicle.

Canada: pioneer in crypto innovation?

Canada was a pioneer in approving crypto ETFs! Having launched the world's first spot Bitcoin and Ethereum ETFs, in February and April 2021. QSOL's approval could pave the way for other financial products based on lesser-known cryptos. Thus providing wider diversity and increased inclusion in the traditional financial market. This could also prompt other countries, including the United States, to consider similar approvals, increasing the legitimacy and acceptance of crypto globally.

3iQ's initiative to launch the first Solana ETF in Canada is a major development! This could transform the crypto investment landscape and open new avenues for financial innovation.

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