Solana will come to the Canadian Stock Exchange if an investment fund is approved
Key facts:
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If approved, it will be SOL’s first publicly traded product in North America.
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If it has a green light, the ticker of this ETP will be QSOL.
Digital asset management company 3iQ Corp. has filed an application with the Toronto Stock Exchange (TSX) to launch a Solana (SOL) exchange-traded product (ETP).
If this presentation is approved, it will be the first instrument with exposure to this cryptocurrency that will be listed in North America, according to the firm.
The news was known through a publication on the post.
In the presentation, the firm clarified that The goal of QSOL is to provide unitholders with exposure to SOL and the daily price movements in US dollars of this digital asset.
This fund will also include exposure to SOL staking, an attractive potential for investors. The firm estimates that Returns range between 6% and 8% annually.
If approved, financial services company Canaccord Genuity will be the agent for the offering, while Tetra Trust and Coinbase Custody will be the custodians of the digital assets. In this regard, Greg Benhaim, director of operations at 3iQ, stated:
“The firm seeks to set a global standard of excellence and we are proud to work closely with the OSC to responsibly improve the digital asset investment landscape in Canada.”
Greg Benhaim, COO of 3iQ.
In the midst of the impact that the news had, James Seyffart, an analyst at the Bloomberg news agency, explained that currently There are more than $1 billion in solana ETP.
The largest solana ETP in the world is 21Shares which trades under the ticker ASOL on Euronext Amsterdam, Euronext Paris and the Swiss Stock Exchange.
In the United States, eyes are on a SOL ETF
The proposal for a SOL ETP in Canada could be a sign of the growing interest of large investors for adopting this digital currency.
In this framework, and after the approval of ether (ETH) exchange-traded funds (ETF) in the United States, all eyes are on sunshine.
As Criptonoticias already reported, Bernstein is a financial advisory company whose analysts believe that SOL will be the next to have a cash ETF. The specialists of that firm Gautam Chhugani and Mahika Sapra explained:
“The approval of the ether ETF paves the way for a first blockchain asset other than BTC to be considered a commodity, raising hopes for cryptocurrencies similar to ETH (probably solana) to follow the same route.”
Gautam Chhugani and Mahika Sapra analysts at Bernstein.
For this to happen, the United States Securities and Exchange Commission (SEC) must change its position of considering most cryptocurrencies to be securities and should be regulated. In other words, everything that is not BTC or ETH will be under the control of the agency.
