CoinShares partners with 3iQ to launch 3iQ CoinShares Bitcoin ETF
CoinShares International Limited has formed a strategic collaboration with 3iQ Corp (3iQ) to launch of the 3iQ CoinShares Bitcoin ETF.
As part of this collaboration, CoinShares has also made a strategic investment in 3iQ, which further aligns the objectives of the two firms.
Founded in 2012, 3iQ is Canada’s largest digital asset investment fund manager with more than CAD2.1 billion in assets under management. 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund.
The ETF will be offered in all of the provinces and territories of Canada. The Toronto Stock Exchange (TSX), the largest stock exchange in Canada, has conditionally approved the listing of the Units under the symbols “BTCQ.U” (in US dollars) and “BTCQ” (in Canadian dollars), subject to the fulfilment of TSX requirements. 3iQ will act as the investment and portfolio manager of the ETF which is expected to begin trading in early April, 2021.
CoinShares and 3iQ share similar objectives - to make digital assets more inclusive by facilitating access to investors through a variety of trusted, regulatory compliant investment vehicles that are available in global markets. CoinShares' participation in the ETF will allow 3iQ to leverage the global brand that CoinShares has built over the past eight years, allowing them to extend their outreach. The 3iQ CoinShares Bitcoin ETF will increase CoinShares’ brand recognition in the North American asset management market, which is a strategic growth market for CoinShares in 2021.
Jean Marie Mognetti, CEO of CoinShares, says: “While global banks are beginning to explore making bitcoin investment products available to their wealthiest clients, at CoinShares, our mission is to provide investors with a variety of options to facilitate investment in digital assets by lowering barriers to entry. In 2015, CoinShares was the first firm in the world to offer regulated, publicly listed exchange traded products that allowed investors to obtain exposure to bitcoin in their portfolios. With inflows into digital asset investment funds exceeding USD6 billion in the first quarter of 2021, and global AUM reaching a new record of USD 55 billion, our team at CoinShares believes digital assets will continue to grow as more investors look for cost-efficient vehicles to access this exciting new asset class. We are actively exploring new ways we can partner with exceptional firms like 3iQ to pursue our mission of making digital assets more accessible to both retail and institutional investors.”