3iQ plans North America’s first Solana ETF

3iQ Digital Asset Management, a Canadian investment firm, has announced plans to launch the first Solana-based exchange-traded fund (ETF) in North America.

The proposed fund, named QSOL, will be listed on the Toronto Stock Exchange (TSX) and aims to track the price movements of Solana’s native cryptocurrency, SOL, against the U.S. dollar.

This move is expected to provide investors with the opportunity for capital appreciation and staking yields.

The Solana ETF by 3iQ is poised to offer a novel investment vehicle to the market, expanding the range of cryptocurrency products available to North American investors.

The fund’s introduction follows the successful launch of Bitcoin and Ethereum ETFs in Canada, reflecting the increasing integration of digital assets into mainstream finance.

With Solana’s market presence as the fifth-largest cryptocurrency, the ETF is anticipated to attract both individual and institutional investors.