3iQ Launching First SOL Staking ETF in North America with Figment as Primary Staking Provider
Alternative digital asset manager 3iQ is launching its SOL staking exchange-traded fund (ETF) on the Toronto Stock Exchange today, with Figment as the primary staking provider.
Solana Staking ETF Overview
Solana Staking ETF (TSX: SOLQ) is the first North American Solana exchange-traded product (ETP) to directly incorporate Proof-of-Stake rewards from this popular protocol into its investment strategy, according to the press release. Trading is expected to begin on 16 April. The teams describe the partnership between 3iQ and Figment as an “all-Canadian collaboration.” Notably, 3iQ was the first to launch a Bitcoin ETP, the 3iQ Bitcoin ETF, on a major global stock exchange. It offers other regulated ETPs as well. Meanwhile, Figment is one of Solana’s genesis validators. It has dedicated Solana product and protocol teams, which have developed “sophisticated staking solutions that optimize validator performance and maximize rewards generation.”
Figment’s Staking Solutions
Furthermore, Figment has over $15 billion in assets staked across more than 40 asset managers, exchanges, wallets, foundations, custodians, and large token holders, it says. It provides the complete staking solution for over 700 institutional clients. Also, it is the largest non-custodial staking provider of staked ETH and SOL on Ethereum and Solana, the team says. Lorien Gabel, CEO and co-founder of Figment, commented that, as a genesis validator in the Solana ecosystem, “Figment is uniquely positioned to power this groundbreaking ETF. By combining institutional-grade staking infrastructure with traditional investment vehicles, we’re making sustainable staking yields accessible to a new class of investors.”
3iQ and Figment SOL ETF Collaboration
3iQ’s Solana Staking ETF comes at a time when the US Securities and Exchange Commission (SEC) is still mulling an approval of staking in US-based ETFs. Canada, Hong Kong, and Europe have moved ahead, the announcement says, and “institutions, including BlackRock, signal that staking is the natural next step for ETPs.” Meanwhile, the Ontario Securities Commission (OSC) approved 3iQ’s SOL fund on 14 April. It also approved other fund managers that applied to offer SOL ETFs. These include Purpose, Evolve, and CI. Notably, these companies will be able to stake a part of their SOL through the country’s financial giant, TD Bank.
Institutional Investment Maturation
Furthermore, the announcement argues that 3iQ’s partnership with Figment “showcases the maturation of Proof-of-Stake assets’ place within an institutional investment vehicle.” Figment’s staking infrastructure and deep protocol expertise will enable seamless access to Solana network rewards through familiar investment products, it adds. According to Pascal St-Jean, President and CEO of 3iQ, this Solana staking ETF builds off the Ether Staking ETF, which the company launched in 2023. The latest “collaboration allows us to build on our reputation as being the first to launch ground-breaking investment products and reinforces our commitment to aligning with top-tier partners who share our vision for unlocking the full value of the digital asset ecosystem,” the CEO says.
SOL Market Performance
Meanwhile, SOL is currently trading at $124. It’s down 5.2% in a day, 4% in a month, and 10% in a year. It appreciated 16% in a week. The price hit its all-time high of $293 in January 2025, falling 58% since.
