Solana ETF Canada chooses Figment as the staking provider

TinTucBitcoinOfficial · 2025-04-15T21:05:50+00:00

Figment has been selected to provide staking services for 3iQ's Solana ETF fund in Canada, reflecting the country's commitment to digital asset financial products. The approval from the Ontario Securities Commission for 3iQ's SOL fund also sets the stage for other fund managers. 3iQ anticipates a 6% to 8% return on their SOL fund, building on their success with the Bitcoin ETF and the recent launch of an Ether ETF with staking rewards. The progression towards embracing cryptocurrency financial products in Canada contrasts with the U.S.'s slower approach.

TinTucBitcoinOfficial

2025-04-15 21:05:50

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Figment has been selected as the staking service provider for 3iQ’s Solana ETF in Canada. The decision affirms Canada’s determination to accelerate the adoption of financial products related to digital assets. Figment will provide staking services for 3iQ’s Solana (SOL) ETF, which is scheduled to debut April 16 on the Toronto Stock Exchange under the ticker SOLQ. In addition to 3iQ, Figment also provides staking infrastructure solutions to more than 700 customers.

The Ontario Securities Commission approved 3iQ’s SOL fund on April 14. This decision also extends to other fund managers such as Purpose, Evolve, and CI. According to an ETF analyst at Bloomberg, these funds are allowed to stake a portion of their SOL assets through TD Bank, Canada’s second-largest financial institution.

3iQ predicts that its SOL fund will yield returns of 6% to 8%, as announced on their website. In the United States, regulators are still considering the provision of cryptocurrency-related funds, while Canada has been ahead since 2021. That year, 3iQ launched the Bitcoin ETF, achieving over 1 billion USD in net assets immediately.

It took almost three years after that for spot-traded Bitcoin ETFs to be adopted in the United States. These funds were also hugely successful, attracting more than $38 billion in inflows in its first year. In October 2023, 3iQ launched an Ether (ETH)-linked ETF, giving investors direct access to the smart contract platform with staking rewards. 3iQ’s Ether funds differentiate themselves from the U.S. in offering this extra reward.

U.S. officials may soon approve staking rewards after allowing exchanges to list options contracts related to ETH, marking a new step in the global embrace of cryptocurrency.

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