Investment company 3iQ applied for the first launch. Solana brush
-0.67%
The proposed ETP, called the Solana Fund, will provide Canadian investors with exposure to SOL without using hot wallets or other blockchain-related technologies, 3iQ said in a statement Thursday. If approved, the fund will launch on the Toronto Stock Exchange under the symbol QSOL.
“As a pioneer in digital asset investment management, we look forward to continuing our mission to provide regulated investment vehicles by implementing the highest standards and working with best-in-class partners to enable efficient access to the crypto asset class for individual and institutional investors. looking forward.” Greg Benheim, senior vice president of product and head of trading at 3iQ, said:
It is unclear when the Solana fund will be available to investors once approved.
3iq did not immediately respond to The Block’s request for comment.
Canadian officials have approved spot Bitcoin and Ethereum ETFs for 2021, such as the Purpose Ether ETF and CI Galaxy Ethereum ETF. The precedent-setting approval comes years before U.S. regulators first allowed similar cryptocurrency-based funds to operate in the country.
Launched in 2020, SOL is the fifth-largest cryptocurrency by market cap at $61.8 billion, according to cryptocurrency price data from The Block.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, crypto, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. Follow her on X: @LizKNapolitano