Figment Powers 3iQ’s Canadian Solana ETF

3iQ’s groundbreaking Solana ETF, launching April 16th on the Toronto Stock Exchange (ticker: SOLQ), has chosen Figment as its exclusive staking provider. This strategic partnership underscores Canada’s leading role in digital asset innovation and institutional adoption.

Figment, a prominent blockchain infrastructure provider supporting over 700 clients, will facilitate institutional-grade staking for 3iQ’s SOLQ ETF. This ensures secure and efficient staking operations for investors seeking exposure to Solana (SOL).

The Ontario Securities Commission’s (OSC) approval of 3iQ’s SOL ETF, alongside similar approvals for other fund managers like Purpose, Evolve, and CI, marks a significant milestone. This approval also permits the funds to stake a portion of their SOL holdings through TD Bank, highlighting the collaboration between traditional finance and the burgeoning crypto industry.

With projected yields ranging from 6% to 8% (as indicated on 3iQ’s website), SOLQ offers investors an attractive opportunity to participate in Solana’s growth while earning staking rewards. This is a significant advantage over traditional investments.

Canada’s proactive approach to crypto ETFs contrasts with the slower pace of regulatory approval in the United States. 3iQ’s early success with its Bitcoin ETF in 2021, surpassing $1 billion in net assets, showcases the potential of this market. The subsequent launch of 3iQ’s Ether ETF, also offering staking rewards, further solidifies Canada’s position as a global leader.

The successful launch of SOLQ and the ongoing regulatory clarity in Canada positions the country as a pivotal hub for cryptocurrency investment and innovation, potentially attracting significant global interest.