Digital asset manager 3iQ has filed to list a Solana ETP on the Toronto Stock Exchange, which would be North America’s first Solana-tied ETP if approved.

According to a Jun. 20 press release, a preliminary prospectus for The Solana Fund (QSOL) has been filed with the securities regulatory authorities in all of the provinces and territories of Canada.

The Toronto-headquartered firm noted in an X statement that if regulators give the green light, QSOL would be the first exchange-traded product (ETP) tied to Solana and available in North America.

3iQ Corp. is pleased to announce that we have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering. This continues our track record of innovation, and if receipt of applicable regulatory approvals is obtained, the…

— 3iQ Digital Asset Management (@3iq_corp) June 20, 2024

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The fund is understood to provide exposure to SOL, and the daily price movements of the U.S. dollar price of SOL. Investors would get the opportunity for “long-term capital appreciation” as well as “staking yield generated by the network” via Coinbase Custody, 3iQ said in the press release. The firm will manage the portfolio, with SOL tokens held by crypto custodians Tetra Trust and Coinbase Custody.

The timeline for the fund’s availability to investors remains uncertain. Besides Solana, 3iQ currently offers exchange-traded funds tracking Bitcoin (3iQ Bitcoin ETF) and Ethereum (3iQ Ethereum ETF). Despite the news, Solana continues to slide, losing over 25% in the past 30 days, according to CoinMarketCap data.

Read more: Solana price could fall 40% to $80, says analyst