Blockchain infrastructure provider Figment has been named the staking provider for 3iQ’s newly approved Solana Staking ETF, which launches on April 16, 2025, on the Toronto Stock Exchange under the ticker SOLQ.
This marks the first Solana (CRYPTO:SOL) exchange-traded product in North America to integrate Proof-of-Stake rewards into its investment strategy.
The Ontario Securities Commission (OSC) approved the ETF on April 14, allowing the fund to stake a portion of its Solana (SOL) holdings through partnerships with institutions like TD Bank.
The fund is expected to offer annual yields between 6% and 8%, according to 3iQ.
Figment, a leading institutional staking provider with over $15 billion in staked assets across 40 protocols, will handle staking operations.
Lorien Gabel, CEO of Figment, stated that their infrastructure ensures secure and efficient access to Solana network rewards.
“By combining institutional-grade staking infrastructure with traditional investment vehicles, we’re making sustainable staking yields accessible to a new class of investors,” Gabel said.
This ETF continues Canada’s leadership in crypto financial products.
In 2021, 3iQ launched its spot Bitcoin (CRYPTO:BTC) ETF, which quickly surpassed $1 billion in net assets.
The firm also introduced an Ether ETF in 2023 that includes staking rewards, distinguishing it from similar U.S. offerings that lack such features.
Canada’s proactive regulatory environment contrasts with the slower pace of crypto fund approvals in the United States.
While U.S. regulators have recently shown signs of approving staking rewards for ETFs, Canada remains ahead in integrating these features into regulated investment products.
“This collaboration allows us to build on our reputation as pioneers in digital asset investment while providing secure access to native yield opportunities,” emphasised Pascal St-Jean, CEO of 3iQ, highlighting the innovation behind the product.
At the time of reporting, the Solana (SOL) price was $126.53.