Tomorrow, April 16th, four funds will be launched in the market, cited in the Stock Market (ETF) based in Solana (SOL) in Canada.
According to a private statement shared by Eric Balchunas, Bloomberg IntelligenceOntario Securities Commission gave green light to financial instruments issued by financial asset management companies of purpose, Evolve, CI, 3IQ.
As explained by Cryptonoticia, etf al Cash is supported by the underlying assets and directly follows the value of the assets represented. That is, if Solana prices rise by 5%, financial products reflect a similar increase and discount commissions.
These financial instruments allow investors to be exposed to the price of the asset without directly interacting with the asset or caring for its custody.
ETFs, like some actions, offer staking features that allow investors to receive dividends. “Solana’s new ETFs will participate in staking activities to earn rewards, which will provide higher yields than ether staking (ETH) and may reduce general ETF maintenance costs,” he stands out in the circular form.
The launch of these products could increase Solana’s exposure among institutional investors and improve liquidity that creates bullish impulses if demand exceeds supply. However, it should be noted that the market focuses primarily on US ETFs and other regions of global care.
So far, the price of the sun has not experienced any significant movement. This suggests that for now there will be no immediate impact due to this news.
At the time of publication of this memo, the Solana Cryptocurrency price is $131.
It is important to clarify these They are not the first etfalcaédede sol in the world. Canadian financial products will be added to the first financial products released in Brazil in August 2024 worldwide.
As reported by Cryptonotics, this Brazilian ETF is issued by Digital Assets Management, QR Asset and managed by the Vortx Investment Company. Available on Sao Paulo B3 under QSOL11 tickets.
When you launch Solana ETFs in Canada, the question that arises is what happens in the US. (Well, as mentioned above, it is the financial market that attracts the attention of the market.)
Canary Capital Digital Assets Management Companies, 21Shares, Wisdomtree, Grayscale and Franklin Templeton have filed a request with the Bag and Securities Commission (SEC) to list Solana ETFs.
Regulatory bodies have suspended these proposals. Paul Atkins assumes that he is the new president on behalf of Gary Gensler.
Now that Atkins has been elected as head of the SEC, it is not unreasonable to expect short-term news regarding the approval or launch of these financial products.
It should be noted that last month the US debuted its first ETF of Solana futures.
The funds, issued by the digital asset management company Volatility Shares, list the names of Volatility Shares Solana ETF (SOLZ) and Volatility Shares 2x Solana ETF (SOLT).
Unlike cash ETFs, these equipment do not directly acquire SOLs, but are based on futures contracts related to the price of digital assets.
These contracts are contracts that establish the purchase or sale of SOL at a future price, without the need to exchange the cryptocurrency itself and the liquidation takes place in cash.
In this regard, Balchunas emphasized that they have “not done much” since the launch of these devices, adding that “it’s hardly done in the assets under management.”
In other words, futures ETFs are not attracting investors’ attention. They don’t handle a significant amount of capital.
Finally, it is worth noting that the SEC has not yet responded to requests for ETF staking and changes to the creation and refund changes to funds cited in the cryptocurrency stock market.
In this regard, SEC Executive Director Sherry R. Haywood said, “The Commission believes it is appropriate to establish a broader terminology for taking action on proposed regulations changes, so there is sufficient time to consider it and the issues it raises.”
