In a groundbreaking move, digital asset manager 3iQ has filed for a Solana (SOL) exchange-traded product (ETP) listing on Canada's Toronto Stock Exchange (TSE). If approved, this would be the first Solana ETP listed in North America, marking a significant milestone in the crypto investment landscape.

The Solana product, dubbed QSOL, aims to provide shareholders with exposure to the digital currency SOL, as well as the daily price movements of the U.S. dollar price of SOL. Additionally, holders of 3iQ's Solana ETP may also accrue interest from native SOL staking yields, estimated to be around 6-8%. This innovative approach to crypto investment offers a unique opportunity for investors to tap into the growing Solana ecosystem.

3iQ's filing for QSOL follows a preliminary prospectus submitted to securities regulatory authorities in all Canadian provinces and territories except Quebec. The firm's commitment to expanding the crypto investment horizon is evident in its existing product lineup, which includes the 3iQ Bitcoin ETF (BTCQ) and 3iQ Ether Staking ETF (ETHQ), boasting net assets of $233 million and $38.7 million, respectively.

Canada has been at the forefront of crypto adoption, with the world's first spot Bitcoin (BTC) ETFs launching in February 2021, followed by spot Ether (ETH) products two months later. This regulatory-friendly environment has paved the way for innovative crypto investment products like QSOL.

While other firms, such as Franklin Templeton, have expressed interest in the Solana network, 3iQ's filing marks a concrete step towards making Solana ETPs a reality in North America. With over $1 billion worth of Solana ETPs already offered globally, this development is poised to further accelerate the growth of the Solana ecosystem.

The approval of QSOL would not only be a significant achievement for 3iQ but also a testament to the growing demand for crypto investment products. As the crypto landscape continues to evolve, innovative offerings like QSOL are likely to play a crucial role in shaping the future of investment and adoption.