In a step toward expanding institutional adoption of Solana staking, Toronto-based Sol Strategies announced Tuesday its selection as the staking provider for 3iQ Corp.’s Solana Staking ETF.
“Sol Strategies’ institutional-grade infrastructure and proven track record in this ecosystem made them the clear choice,” Pascal St-Jean, CEO and President at 3iQ, stated in a press release. “Their compliance framework and validator performance align perfectly with our commitment to providing regulated, secure digital asset exposure to investors.”
Sol Strategies, formerly Cypherpunk Holdings, seeks to leverage investment opportunities in staking rewards and Solana-based projects and providing infrastructure for the Solana blockchain.
3iQ is a global digital asset investment manager with $1 billion in assets under management. The firm submitted on Jan. 28 the preliminary prospectuses with the Ontario Securities Commission and other Canadian regulators to list the 3iQ Solana Staking ETF and the 3iQ XRP ETF on the Toronto Stock Exchange. If approved, they will be the first exchange-traded funds in the world offering exposure to Solana and XRP.
The U.S. Securities and Exchange Commission started to solicit public comments on a proposal to list and trade the Grayscale Solana Trust, which would convert it into an exchange-traded product. Meanwhile, Bloomberg analysts estimate spot Solana ETFs have a 70% chance of approval this year.
“Being selected as 3iQ’s staking partner validates our infrastructure and demonstrates the growing demand for regulated staking solutions,” said Sol Strategies CEO Leah Wald. “This partnership represents a pivotal moment for institutional Solana staking, allowing traditional investors to access staking rewards through a regulated investment vehicle.”
As of Jan. 31, Sol Strategies and its subsidiaries held an aggregate of 189,968 SOL, acquired at an average purchase price of about $179 per SOL. The company's stock (HODL), which trades on the Canadian Securities Exchange, surged over 2,000% last year and it currently trades over-the-counter in the U.S. with plans to list on the Nasdaq.
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