Canada's 3iQ Files to List First Solana ETP

Canada's 3iQ Files to List First Solana ETP in North America

3iQ announced it has filed a prospectus with the Ontario Securities Commission to launch North America's first publicly traded Solana exchange-traded product (ETP) on the Toronto Stock Exchange, under the ticker QSOL. This Solana Fund will offer exposure to SOL price movements and staking yield generated by the network, according to the institutional investor.

3iQ aims to enhance the digital asset investment landscape in Canada and maintain the country's status as an innovation hub. Previously, 3iQ was a pioneer in digital asset investment management, launching the first publicly listed Bitcoin and Ether funds on the TSX. Following the announcement, the price of SOL remained modestly lower over the first 24 hours.

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Pantera Capital is Raising Funds for Second TON Investment

Pantera, a crypto venture capital firm, is raising a new fund called the "Pantera TON Investment Opportunity" to further invest in the TON blockchain's native cryptocurrency, Toncoin. Potential investors must express interest by June 21 with a minimum contribution of $250,000. This follows Pantera's largest-ever investment in Toncoin in March at a huge discount.

Pantera highlighted the success of Telegram-linked gaming mini-apps, Notcoin, and Hamster Kombat, which have reached 35 million and 100 million players, respectively. TON has a market cap of over $17.6 billion, making it the tenth-largest cryptocurrency. Pantera, managing nearly $5 billion in assets, is also raising a $1 billion Fund V for other crypto investments.

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Spot Ethereum ETF Issuers Update Fees and Seed Investments

Firms vying for a position in the Ethereum ETF market submitted amended registration statements, detailing seed investments and fees as they await SEC approval. BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy, and 21Shares made filings, with VanEck and Franklin Templeton disclosing fees of 0.20% and 0.19%, respectively.

These low fees add pressure on BlackRock to keep fees under 30 basis points. Seed investments were disclosed, including 21Shares' $340,739 and Franklin Templeton's $100,000, with Invesco Galaxy also reporting a $100,000 seed investment. Grayscale and others included additional disclosures about Ethereum and associated risks in their filings.

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Binance Freezes $5M of $54M Hacked Turkish Exchange Funds

Turkish cryptocurrency exchange BtcTurk suffered a cyberattack affecting ten of its hot wallets, with suspicious transfers of Avalanche (AVAX) tokens linked to the incident. While the cold wallets and the majority of assets remain secure, Binance CEO Richard Teng announced that Binance is assisting in the investigation and has frozen over $5.3 million in stolen funds.

Blockchain investigator ZachXBT identified about $54 million in suspicious AVAX transfers, connecting them to exchanges such as Binance and Coinbase, and subsequently withdrawing them as Bitcoin. The attack also appears connected to a hack on online casino Sportsbet, which lost over $3.5 million, as the stolen funds were intermingled.

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Data of the day

Arbitrum's daily revenue jumped to a record $3.4 million on June 20 due to increased activity at the opening of LayerZero's ZRO token claims, for which it served as the oversight chain. Arbitrum made only $20,000 on June 19, but daily revenue grew by over 16,500% on Thursday, as ARB's median gas costs skyrocketed from 0.01 gwei to 34.7 gwei ($0.89).

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More breaking news

• A MakerDAO governance delegate has lost $11 million in Aave Ethereum Maker (aEthMKR) and Pendle USDe tokens in a phishing scam.
• German government sold a large Bitcoin holding, worth $325 million over two days, which was seized from the operators of a movie piracy website.
• Consensys sent a letter to the US IRS requesting the delay in digital asset reporting regulations, as the IRS released an early draft of the crypto-reporting tax form.
• Meme coins with political characteristics could make volatile moves amid next week’s Trump vs Biden presidential debate, which is scheduled for June 27.
• CoinStats, a popular crypto portfolio tracking app, has warned users that wallets created on the CoinStats platform may be vulnerable following a security incident.

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