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The Canadian public markets might soon be getting the first ever Exchange Traded Product for Solana.
What’s happening:
- Digital asset management company 3iq has applied to list a Solana focused Exchange Traded Product in Canada
- The proposed name of the new Exchange Traded Product is Solana Fund and 3iq is seeking a listing on the Toronto Stock Exchange
Why it matters:
- Solana is one of the most popular layer one blockchains in all of crypto and has recently seen explosive growth in transactions as well as partnerships with payment giants such as PayPal (NASDAQ: PYPL)
- The Canadian public markets were amongst the first globally to embrace spot Bitcoin and spot Ethereum ETFs, prior to the landmark decision from the United States Securities and Exchange Commission to allow spot Bitcoin ETFs to list on major stock exchanges in the United States
Going deeper:
- DeFi Technologies has been one of the leaders in Exchange Traded Products for decentralized digital assets, with a rapidly growing Solana Exchange Traded Product listed on the Nordic Growth Market as well as the recent launch of the world’s first yield generating Exchange Traded Product for Bitcoin
- 3iq already has multiple Exchange Traded Products listed on the Toronto Stock Exchange that are focused on Bitcoin and Ethereum, including the world’s first staking ETF for Ethereum
