The upcoming ETFs will include a staking feature, allowing issuers to stake a portion of the SOL holdings for additional yield — a notable advantage for investors seeking passive income.

Canada Ahead Of The U.S. In Altcoin ETF Race

Unlike the United States, Canada does not have a federal securities regulator. Instead, each province manages its own financial markets, with Toronto’s exchange overseen by OSC.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

In the U.S., the SEC has only approved spot Bitcoin and Ether ETFs so far. Altcoin ETFs — especially those with staking capabilities — remain in regulatory limbo. Bloomberg’s James Seyffart predicts Ether staking ETFs could get greenlit by May, though delays are likely.

Demand Still Uncertain

Despite the launch, some experts warn that investor appetite may be limited. For instance, the Volatility Shares Solana Futures ETF (SOLZ), launched in March in the U.S., has attracted only $5 million in assets as of April 14.

Balchunas cautioned against using futures ETF performance as an indicator for spot ETFs, stating that “the 2x XRP already has more AUM” than existing SOL futures ETFs.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Spot Solana ETFs to Launch in Canada This Week appeared first on Coin Engineer.

Canadian digital asset/cryptocurrency management company 3iQ has filed an official application with the country’s regulator for a Solana ETF. 3iQ has also officially announced the application. If the fund is approved, the ETF will be listed on the Toronto Stock Exchange (TSE).

“We have officially filed the preliminary prospectus for the Solana Fund (QSOL) in Canada,” 3iQ said in a statement. The preliminary prospectus is the first document a company files with the regulator to offer certain securities to the public.

You might like: What’s Happening with Bitcoin and DXY?

The company’s statement also said that if the Solana ETF is approved, it would be a first for the North American region.

The statement also said that customers who own the Solana ETF will also be able to benefit from “estimated” staking yields of between 6% and 8%. In contrast, the SEC has not accepted this in US spot Ether ETFs and has asked issuers to remove staking from their ETF applications. All companies have since removed staking from their applications.

3iQ will also use Coinbase for staking services for the Solana Fund. Coinbase Custody and Tetra Trust have also been agreed upon for custody services.

3iQ also offers Bitcoin and Ether ETF services. The Bitcoin and Ether ETFs were approved in Canada in February during the hottest days of the 2021 bull run.

The post Solana ETF Application Filed: Canadian Company Takes First Step appeared first on Coin Engineer.

Solana Fund, the planned ETP, will expose Canadian investors to SOL without requiring hot wallets or other blockchain-related technology, 3iQ said Thursday in a release. Should approval go through, the fund would open under the ticker QSOL on the Toronto Stock Exchange.

Greg Benhaim, executive vice president of product and head of trading at 3iQ, said, “As pioneers in digital asset investment management, we look forward to continuing our mission to deliver regulated investment vehicles—eembodied by the highest standards and working with best-in-class partners—ffor individual and institutional investors to efficiently access the crypto asset class.”

This Might Interest You: Barron Trump and Shkreli Behind DJT Coin, Says Pharma Bro

Should the Solana Fund be approved, it is unknown when investors could access it.

In 2021, the Canadian government approved spot bitcoin and ether ETFs such as the as the CI Galaxy Ethereum ETF and Purpose Ether ETF. The precedent-setting licenses arrived a few years before U.S. authorities initially let comparable crypto-based funds run in the country.

Launched in 2020, SOL ranks seventh among all cryptocurrencies based on market valuation at $61.8 billion.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post 3iQ Seeks Approval for Solana ETP on Toronto Exchange appeared first on Coin Engineer.