3iQ's Solana Staking ETF has been approved by the Ontario Securities Commission and will launch on the Toronto Stock Exchange on April 16 under the ticker SOLQ. Figment has been selected as the staking provider, enabling institutional staking for the ETF. The approval also extends to other fund managers like Purpose, Evolve, and CI. 3iQ estimates yields of 6% to 8% for its SOL fund. Canada continues to lead in digital asset adoption, having launched its first Bitcoin ETF in 2021. In October 2023, 3iQ also launched an Ether ETF offering staking rewards, ahead of similar US offerings.

Blockchain infrastructure provider Figment has been selected as the staking provider for 3iQ’s newly approved Solana exchange-traded fund (ETF), underscoring Canada’s continued efforts toward adoption of digital asset financial products. Figment will enable institutional staking for the 3iQ Solana ( SOL ) Staking ETF, which launches on the Toronto Stock Exchange on April 16 under the ticker SOLQ, the companies said in a statement. In addition to 3iQ, Figment provides staking infrastructure solutions to more than 700 clients. The Ontario Securities Commission (OSC), a provincial regulator, green-lighted 3iQ’s SOL fund on April 14. The approval was also extended to other fund managers seeking to offer SOL ETFs, including Purpose, Evolve and CI. As Bloomberg ETF analyst Eric Balchunas reported at the time, the funds are permitted to stake a portion of their SOL holdings through TD Bank, Canada’s second-largest financial institution by assets. 3iQ estimates that its SOL fund will provide yields of between 6% and 8%, according to its website . Related: S olana, XRP ETFs may attract billions in new investment — JPMorgan As US regulators continue to consider various crypto-related fund offerings , Canada has been leading the curve in adoption going back to 2021. That was the year that 3iQ debuted its spot Bitcoin ( BTC ) ETF, which crossed $1 billion in net assets almost immediately. It would take nearly three more years before spot Bitcoin ETFs were approved in the United States. Like their Canadian counterparts, the US ETFs saw overwhelming success in their first year, generating more than $38 billion in net inflows . In October 2023, 3iQ launched an ETF tied to Ether ( ETH ), giving investors direct access to the smart contract platform. Unlike the Ether ETFs that US regulators approved the following year, 3iQ’s fund offers staking rewards. As Cointelegraph recently reported , US regulators may be on the cusp of approving staking rewards after they authorized exchanges to list options contracts tied to ETH. Related: SEC delays staking decision for Grayscale ETH ETFs 

3iQ's Solana Staking ETF Approved, Figment Chosen as Staking Provider