3iQ and Figment Unveil North America’s First Solana Staking ETF

3iQ Corp. has partnered with Figment to serve as the main staking provider for its newly launched Solana Staking ETF (TSX: SOLQ), which is set to debut on the Toronto Stock Exchange on Wednesday at 9:30 AM EST.

This announcement marks the introduction of the first product in North America that seamlessly integrates native Solana (SOL) staking rewards within an exchange-traded format.

SOLQ enables investors to access Solana’s native staking yields through a regulated exchange-traded vehicle, which was previously accessible only to crypto-native users managing validator nodes or delegating tokens to validators, eliminating the hassles of self-custody and direct protocol interactions.

Figment, a key player in the Solana ecosystem and one of its founding validators, will oversee staking operations for the ETF.

The company boasts a strong infrastructure with over $15 billion in assets staked across more than 40 protocols, an impeccable slashing prevention record, and a client base exceeding 700 institutional partners.

“By merging institutional-grade staking infrastructure with traditional investment products, we’re enabling a new group of investors to access sustainable staking yields,” stated Lorien Gabel, CEO and co-founder of Figment.

3iQ furthers its commitment to staking ETFs

This initiative builds upon 3iQ’s reputation for pioneering digital asset products in conventional markets. The firm has previously launched the world’s first Ether Staking ETF in 2023, as well as the Bitcoin ETF (TSX: BTCQ), which was the first Bitcoin ETP to be listed on a major global stock exchange.

“At 3iQ, we take pride in continuing our tradition of innovation,” remarked 3iQ President and CEO Pascal St-Jean. “This product underscores our dedication to partnering with top-tier collaborators who share our vision for unlocking the complete value of the digital asset ecosystem.”