3iQ Digital Asset Management, a Canadian-based cryptocurrency investment fund manager, has just made history by filing for the initial public offering of the first Solana Exchange-Traded Product (ETF) in North America in 2024. The new fund, which will operate under the ticker QSOL, promises to offer investors direct exposure to the Solana cryptocurrency (SOL), and will be available on the Toronto Stock Exchange.

Greg Benhaim, Executive Vice President of Product and Head of Trading at 3iQ, emphasized the importance of this initiative: “We look forward to continuing our mission of providing regulated investment vehicles – incorporating the highest standards and working with the best partners – for individual investors and institutions have efficient access to the crypto asset class.”

This offer not only aims to track the daily price movements of SOL, but also aims at long-term capital appreciation and the income generated by staking the currency. 3iQ is already recognized for its innovation in the digital asset market, having been a pioneer in launching the first publicly traded Bitcoin and Ether funds in Canada.

Eric Balchunas, ETF analyst at Bloomberg, commented on 3iQ’s strategy on Twitter: “I was surprised more asset managers haven’t attempted similar filings in the US as it could be a strategic move to position themselves favorably in the event of a pro regulatory change. -cryptocurrency under a potential new administration.”

Investment manager VanEck, which had previously shown confidence in Solana by launching an ETN on Deutsche Börse in 2021, remains optimistic. According to VanEck analysts Matthew Sigel and Patrick Bush, Solana is expected to make a significant presence in the ETF competition in 2024, driven by a growing wave of asset managers seeking approvals for such funds.

At the time of publication, the price of SOL was quoted at US$134.04 with a drop of 1% in the last 24 hours.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/lancamento-do-primeiro-etf-solana-em-2024-sera-no-canada-pela-bolsa-de-toronto/

Leave a Reply