Canada's largest digital asset investment fund manager expands its crypto fund offering
A few days after the race for the first Ether ETF ended in a three-way tie, another Canadian firm has joined the fray with its own offering.
3iQ, the largest digital asset investment fund manager in Canada, has launched the 3iQ Coinshares Ether ETF on the TSX. It now trades under the ticker symbols ETHQ for Canadian dollar units and ETHQ.U for U.S. dollar units.
“The introduction of this new ETF format provides another way to efficiently invest in Ether,” said 3iQ Chairman and CEO Fred Pye.
Unitholders of 3iQ’s ETF will be provided with exposure to the digital currency, as well as the daily price movements of the cryptocurrency’s U.S. dollar price. They’ll also have the opportunity for long-term capital appreciation.
“We believe 3iQ’s experience and knowledge in this area will help ETF investors achieve their goals while investing in this new technology,” Pye said.
With more than $2.2 billion in assets under management, 3iQ made its mark in the Canadian investment space with the launch of its pioneering bitcoin fund last year.
ETHQ also comes on the heels of the firm’s launch of its own bitcoin ETF, BTCQ, which it developed and brought to market under a partnership with European cryptocurrency firm Coinshares.
“This ETF further solidifies 3iQ’s partnership with CoinShares,” Pye said.
