Canada is set to receive the world’s first Solana Exchange Traded Product (ETP), thanks to 3iQ Corp.
3iQ Submits Preliminary Prospectus for The Solana Fund (QSOL) in Canada
3iQ Corp., a global leader in digital asset investment solutions, has announced the submission of a preliminary prospectus for The Solana Fund (QSOL) in Canada, marking a significant milestone in the company’s history of innovation. If regulatory approvals are obtained, the Fund would become the first Solana exchange-traded product listed in North America.
Global Leader in Digital Assets Submits Preliminary Prospectus
TORONTO, June 20, 2024 — 3iQ Digital Asset Management (“3iQ”), one of the largest investment fund managers dedicated exclusively to digital assets in Canada, is pleased to announce that The Solana Fund (the “Fund”) has filed a preliminary prospectus with securities regulatory authorities across all Canadian provinces and territories, excluding Québec, for an initial public offering of Class A and Class F units (the “Offering”). Additionally, 3iQ has applied to list the Class A units of the Fund on the Toronto Stock Exchange (“TSX”) under the ticker “QSOL.” The Fund aims to be the first Solana (“SOL”) exchange-traded product in North America. For more information about the Fund, visit pages.3iq.io/solana.
Investment Objectives of The Solana Fund
The Solana Fund’s primary investment objectives are to provide unitholders with:
- Exposure to SOL: Access to the digital currency SOL and the daily price movements of the U.S. dollar price of SOL.
- Capital Appreciation: Opportunities for long-term capital growth.
- Staking Yield: Earnings generated through the network’s staking process.
Management and Custody
3iQ will act as the investment manager and portfolio manager for QSOL. Canaccord Genuity will serve as the agent for the offering, while Tetra Trust and Coinbase Custody Trust Company, LLC will function as custodians. Furthermore, 3iQ will leverage Coinbase Custody’s institutional staking infrastructure to support SOL staking within the Solana Fund.
