yolowire.com - Canadian asset manager 3iQ has applied to launch North America's first publicly traded Solana (CRYPTO: SOL) exchange-traded product (ETP) on the Toronto Stock Exchange (TSX).
If approved by market regulators in Canada, the proposed “Solana Fund” will trade under the ticker symbol “QSOL.”
In addition to offering exposure to the spot price movements of cryptocurrency Solana, the fund will also offer exposure to staking yield generated by Solana’s underlying Blockchain network.
Privately held 3iQ was one of the first companies to list a spot Bitcoin (CRYPTO: BTC) fund on the Toronto Stock Exchange, and the first to launch a publicly listed Ethereum fund in Canada.
Exchange traded products are investment instruments that track the price of an underlying security, in this case Cryptocurrency Solana.
Most ETPs trade on regulated exchanges like stocks and shares can be purchased and prices fluctuate throughout a trading day.
Solana is currently trading at $130 U.S. per digital token, up 680% over the last 12 months.
Asset manager 3iQ is a private company. Its stock does not trade on a public exchange.