VanEck Solana ETF may not offer a fixed number of shares, allowing authorized participants to create and redeem shares on demand

ChainCatcher news, before the application for the VanEck Solana ETF was submitted, the asset management company 3iQ also filed for a SOL ETF in Canada. If approved by the Ontario Securities Commission, the product will trade on the Toronto Stock Exchange.

It is reported that the 3iQ product is a closed-end fund, which means it will offer a fixed number of shares, while the VanEck Solana ETF will allow authorized participants to create and redeem shares based on market demand.

Bloomberg Intelligence analyst James Seyffart stated on X that 3iQ's Solana fund will be more similar to Grayscale Trust products.