what's 3iQ Solana Staking ETF?

The 3iQ Solana Staking ETF (SOLQ) is an exchange-traded fund launched by 3iQ Corp., a Toronto-based digital asset investment manager, providing investors with exposure to Solana (SOL) through a regulated vehicle on the Toronto Stock Exchange (TSX). It invests in long-term holdings of SOL acquired from leading digital asset trading platforms and over-the-counter counterparties. The ETF enables staking of SOL holdings with professional validators, allowing units to accrue rewards over time while contributing to the security and efficiency of the Solana network. Unlike direct SOL ownership, SOLQ offers a convenient, cost-effective way for investors to gain indirect exposure to SOL's price movements and staking yields without managing wallets or technical complexities. It partners with institutional staking providers like Figment and Twinstake to handle validation processes, ensuring high uptime and performance. The fund is eligible for registered accounts in Canada, such as RRSPs and TFSAs, and features a competitive fee structure, including a 0% management fee for the first 12 months post-launch. SOLQ represents a milestone in institutional adoption of Solana, bridging traditional finance with blockchain by allowing staking rewards to increase the SOL per share over time. This structure not only provides potential capital appreciation but also passive income from network participation, making it suitable for long-term holders seeking diversified crypto exposure.

3iQ, parent of Solana Staking ETF, acquired by Coincheck for $112M in stock purchase.