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WonderFi CEO kidnapped and forced to pay $1M ransom: Report

WonderFi CEO Dean Skurka reportedly said in an email that he is “safe” now and that no company funds and data were impacted.

The CEO of Toronto crypto firm WonderFi Technologies was reportedly kidnapped and forced to pay a $1 million ransom for this release, CBC reported on Nov. 7.

Dean Skurka was “forced” into a vehicle in downtown Toronto during “rush hour” on Nov. 6 and made a $1 million electronic transfer to secure his release, a source close to the investigation told CBC.

Skurka reportedly confirmed via email that he was involved in an “incident” on Nov. 6 but is safe and that company funds and data were not impacted.

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Solana ETF in the works: 3iQ files for new ETP in Canada

The Solana product, QSOL, seeks to provide shareholders with staking yield accrued from the Solana network.

Digital asset manager 3iQ has filed for a Solana (SOL) exchange-traded product listing on Canada’s Toronto Stock Exchange (TSE) — a North American first if approved, the firm claims.

“We have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering,” 3iQ posted to X on June 20.

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

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Bitcoin ETF from 3iQ and Coinshares goes live in Canada

The fund's units began trading roughly three weeks after the investment manager filed a final prospectus with Canadian regulators.

Canada-based investment fund manager 3iQ’s Bitcoin exchange-traded fund created in partnership with Coinshares is now available for trading.

In an announcement from 3iQ today, trading for the 3iQ Coinshares Bitcoin exchange-traded fund, or ETF, began on the Toronto Stock Exchange today. The fund’s units are trading in U.S. dollars under the ticker “BTCQ.U” and Canadian dollars under the ticker “BTCQ.” Trading opened at $11.89 for BTCQ before dipping to $11.51 and recovering, while units of the Bitcoin ETF in U.S. dollars opened at $9.39 and have since risen 0.4% at the time of publication.

The investment fund manager said the ETF was aimed at providing investors exposure to Bitcoin (BTC) based on the movements of the cryptocurrency’s value in dollars, and the opportunity for long-term capital appreciation. The Bitcoin ETF’s management fee is 1%, but 3iQ said it would absorb any other expenses in excess of 0.25%.

Canada has seemingly taken the lead on launching crypto ETFs in North America given the U.S. Securities and Exchange Commission’s, or SEC's, reticence in approving local funds — though many are hopeful given pro-crypto Gary Gensler’s recent confirmation as SEC chair. 3iQ was behind the launch of Canada’s first Bitcoin fund, and filed the final prospectus for the Bitcoin ETF earlier this month.

Including 3iQ’s and Coinshare’s fund, regulators in Canada have approved several crypto ETFs. Last week, they gave the green light for Ether (ETH) ETFs from Purpose Investments, Evolve Funds Group, and CI Global Asset Management to begin trading on local exchanges. Both Purpose and Evolve had previously launched Bitcoin ETFs, attracting roughly $1.3 billion and $100 million in assets under management, respectively.

Canada’s first Bitcoin fund, launched by 3iQ in April 2020, has grown to more than $1 billion. Together, Coinshares and 3iQ have $7 billion in assets under management.

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