3iQ, a Canadian digital asset manager, has filed a preliminary prospectus for the first Solana (SOL) exchange-traded product (ETP) on the Toronto Stock Exchange (TSE). The fund, called QSOL, aims to provide exposure to Solana and track the daily price movements of SOL/USD. If approved, it would become the first SOL ETP to be listed in North America. The Solana ETP is attractive due to Solana’s impressive transaction speeds, scalability, and its reputation as the next in line after Ethereum. Solana has also been gaining traction among developers and users with its proof-of-stake consensus mechanism. With a market cap of over $60 billion, Solana is the fifth-largest cryptocurrency. Last month, Standard Chartered Bank predicted that Solana could soon have its own ETFs, following the approval of Ethereum ETFs. This news has fueled speculation and optimism around Solana.
