The Canadian securities regulator has issued a receipt for the final prospectus of the 3iQ CoinShares Ether ETF.
The fund’s investment objectives are to provide holders of units of the Ether ETF with exposure to the digital currency Ether and the daily price movements of the US dollar price of Ether, and the opportunity for long-term capital appreciation. 3iQ Corp (3iQ) will act as the investment and portfolio manager of the Ether ETF which, subject to the Ether ETF satisfying the Toronto Stock Exchange’s (the TSX) original listing requirements, is expected to begin trading later this month on the TSX in Canadian dollars under the symbol “ETHQ” and in US dollars under the symbol ETHQ.U.
CoinShares is Europe’s largest digital asset manager, with approximately USD4.5 billion in AUM across its family of exchange traded products. As noted in CoinShares’ weekly Digital Asset Fund Flows report, the first quarter of 2021 saw record inflows into digital asset investment products, exceeding flows in Q4 2020. A growing share of these flows have been to Ethereum investment products, as the decentralised finance (DeFi) and Web3 ecosystem continues to grow in adoption and usage, and as investors continue to increase overall exposure to digital assets as evidenced by global fund AUM rising to around USD60 billion.
“We’re excited to grow our asset management footprint in North America in collaboration with 3iQ, Canada’s largest digital asset manager,” says Jean Marie Mognetti, CEO of CoinShares, “Following our public listing in March of this year, CoinShares continues to pursue an aggressive strategic growth plan, leveraging our deep institutional experience managing digital assets while providing trust and transparency to investors. We are excited to bring our robust capital markets infrastructure and unparalleled expertise and network in the digital asset ecosystem together with 3iQ’s product innovation and distribution capabilities to build a robust suite of digital asset investment products.”
CoinShares announced a strategic investment in 3iQ on 1 April, 2021 as well as the filing of the 3iQ CoinShares Bitcoin ETF on the TSX, which launched on 19 April, 2021.