A new chapter is unfolding for digital asset investing in North America as Canadian asset manager 3iQ rolls out the first Solana staking ETF on the Toronto Stock Exchange. Trading under the ticker SOLQ, the fund allows investors to gain regulated exposure to Solana’s native staking rewards, making it a pioneering move in the world of blockchain-backed investment products.
This ETF isn’t just another product. It’s the first of its kind in North America to directly incorporate Proof-of-Stake rewards from Solana into its strategy. It opens the door for everyday and institutional investors to earn Solana staking yields without managing their own wallets or staking infrastructure.
To make this happen, 3iQ teamed up with Figment, one of the original validators on the Solana network and a major player in the institutional staking space. Figment brings serious credentials to the table with more than 15 billion dollars in assets staked and a client base that includes over 700 institutional partners including asset managers, exchanges, custodians and foundations.
According to Figment’s CEO and co-founder Lorien Gabel, their deep roots in the Solana ecosystem make them uniquely positioned to support this innovative ETF. By combining institutional-grade staking infrastructure with traditional investment vehicles, we’re making sustainable staking yields accessible to a new class of investors, he said.
The collaboration between 3iQ and Figment is described as an all-Canadian effort and one with global implications. While regulators in the US continue to debate the inclusion of staking features in exchange-traded products, markets like Canada, Hong Kong and parts of Europe are already moving forward. The Ontario Securities Commission approved the launch of 3iQ’s SOLQ ETF on April 14, highlighting the country’s progressive stance on integrating blockchain protocols with traditional finance.
Other Canadian firms including Purpose Investments, Evolve ETFs and CI Global Asset Management have also received approval to launch Solana ETFs. Interestingly, some of these firms will be able to stake their SOL holdings via services offered by TD Bank, one of Canada’s largest financial institutions. That’s a huge sign that staking is going mainstream in the country’s financial ecosystem.
This isn’t 3iQ’s first foray into staking-focused products. The firm previously made waves in 2023 with the launch of its Ether Staking ETF which allowed investors to earn Ethereum staking rewards through a regulated vehicle. With the new Solana-focused fund, the company is reinforcing its reputation as a trailblazer in digital asset management.
Pascal St-Jean, President and CEO of 3iQ, says this new ETF reflects their broader mission. This collaboration allows us to build on our reputation as being the first to launch groundbreaking investment products and reinforces our commitment to aligning with top-tier partners who share our vision for unlocking the full value of the digital asset ecosystem, he said.
For investors, the appeal is clear. Solana is one of the fastest-growing layer 1 blockchains, known for its high throughput and low transaction fees. With the SOLQ ETF, investors get exposure to this dynamic ecosystem while earning native rewards, all within a familiar regulated investment structure.
At a higher level, this move signals the growing maturity of the Proof-of-Stake space. For years, staking was mostly the domain of crypto-native users. Now, thanks to products like SOLQ, staking is being repackaged in ways that traditional investors can access without the complexity of private keys, validator setups or slashing risks.
As more asset managers and financial institutions look to tap into blockchain’s yield-generating potential, we can expect to see a wave of similar products emerge globally. For now, Canada is setting the pace and 3iQ is clearly leading the charge.
