3iQ Files for First Solana ETP in North America!

3iQ has filed for a Solana exchange-traded product listing on Canada’s Toronto Stock Exchange (TSE).

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Here's what we've got for you today:

  • Solana ETF in the Works: 3iQ Files for New ETP in Canada

  • Winklevoss Twins Pledge $2M for Trump, Claiming Biden Waged War on Crypto

  • Cardano Community Weary of Grifters, Hoskinson Reacts

  • Judge Leaning Towards Denying Kraken’s Motion to Dismiss SEC Case

Digital asset manager 3iQ has filed for a Solana (SOL) exchange-traded product listing on Canada’s Toronto Stock Exchange (TSE).

  • If approved, it would be the first Solana ETP listed in North America.

  • The QSOL ETP was filed on a preliminary prospectus with regulatory authorities in all Canadian provinces and territories except Quebec.

  • Coinbase Custody and Tetra Trust will serve as custodians for the ETP. Holders of QSOL can also accumulate interest from native SOL staking yields, which 3iQ estimates to be around 6-8%.

The Gemini co-founders each pledged $1 million in BTC towards the reelection of former U.S. President Donald Trump.

  • The Winklevoss twins announced on X that they plan to vote for Trump on Nov. 5 and plan to donate 15.47 BTC (about $1 million) each to his campaign.

  • Tyler Winklevoss called Trump the definitive pro-Bitcoin, pro-crypto, and pro-business candidate, and compared him to President Joe Biden, whom he accused of declaring war on crypto.

  • The brothers also recently attended a fundraiser for Trump, and have donated around $5 million to the Fairshake political action committee, which has been responsible for attack ads against lawmakers and backing certain Democratic and Republican candidates for office.

Cardano founder Charles Hoskinson took to X to address critics who believe some community members are exploiting the project.

  • Hoskinson’s reaction was in response to criticisms from Cardano community members about the project's current state and concerns about opportunistic individuals in the community.

  • One Cardano community member supported a proposal to burn the 1.5 billion ADA treasury in an attempt to stop the issuance of ADA tokens to exploiters.

  • The proposal also gained a lot of support from other community members who believe the treasury funds have been misallocated to large wallet owners who rarely contribute to the project's development.

Kraken and the SEC recently presented their arguments about the classification of digital assets on Kraken as securities, however, the judge suggested he might deny Kraken's motion to dismiss the case. 

  • The judge indicated he was "inclined to deny" the motion, and also suggested it was "plausible" that digital assets were offered and sold as investment contracts on Kraken.

  • The SEC argued that Kraken functioned as an “ecosystem” where tokens were sold as investment contracts, which fits the definition of securities under the Howey test.

  • Kraken’s legal team does not agree with this, and wants the SEC to prove that the securities were brokered, traded, or cleared on Kraken.



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